When a good ends up overconsumed and depleted, we can assume it is a:

Under a rule of reason approach, an act is illegal:

a. only if it is shown to result in an anticompetitive outcome. b. if two parties merge. c. if a firm engages in price discrimination. d. if two firms engage in price fixing. e. if two firms undertake a joint venture

Which of the following is an example of an externality?

a. cigarette smoke that permeates an entire restaurant b. a flu shot that prevents a student from transmitting the virus to her roommate c. a beautiful flower garden outside of the local post office d. All of the above are correct.