In a market where negative externalities are associated with consumption and production, the equilibrium will not be efficient because:
A. Too few resources will be allocated towards producing the good
B. Firms will shut down until costs are reduced
C. Costs of production will, on average, be too high
D. Too many resources will be allocated towards producing the good
D. Too many resources will be allocated towards producing the good
Economics
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In India last year, the growth rate of real GDP was 3.5 percent and the population grew from 1,000 million people to 1,100 million. Real GDP per person
A) increased by 13.5 percent. B) decreased by 6.5 percent. C) increased by 6.5 percent. D) decreased by 13.5 percent. E) increased by 3.5 percent.
Economics
Will a perfectly competitive firm ever produce in the short run even though it is suffering an economic loss?
What will be an ideal response?
Economics