A subsidy equal to the marginal private benefit of a good can be used to make a market with a positive externality efficient

Cartels rarely succeed for long because they find it difficult to

A) avoid losing the advantages from economics of scale. B) keep marginal costs high and marginal revenue low. C) keep members from offering discounts and new firms from entering. D) keep members from reducing output below the optimal level. E) prevent average cost from falling below marginal cost.

Scarcity is a temporary state of insufficiency that ends with new innovation

Indicate whether the statement is true or false