The additional benefit received as a result of undertaking an action is:
a. the opportunity cost.
b. the marginal cost

What would the Herfindahl-Hirschman Index equal for an industry consisting of 20 firms with each holding a 5% market share?

a. 20 b. 100 c. 500 d. 2,500

Suppose a large tree on Jack's property blocks Amy's view of the ocean. Jack accepts Amy's offer of $2,000 to cut down the tree. This is an example of

A) internalizing externalities via voluntary agreements. B) a result of logrolling. C) a consequence of a positive externality. D) a consequence of private costs exceeding social costs.