The noise inflicted on bystanders by users of chain saws, lawn mowers, and motorcycles is an example of
a. a positive externality
b. a public good
c. nonexcludability
d. marginal private benefit exceeding marginal social benefit
e. marginal social cost and the free-rider problem
D
Economics
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Moral hazard occurs because people act
A) in the interest of others at all time. B) in the best interest of society. C) in their own self-interest. D) like anarchists.
Economics
The specific oligopolistic model used in a market
A) depends on the pricing structure of the good or service sold. B) depends on the characteristics of the market, such as time horizon for competition. C) is usually a Cournot model, unless cartels are illegal. D) All of the above.
Economics