Which of the following offers the best example of a positive externality?
a. A coastal dairy farmer's undeveloped land offers unimpeded views of the ocean for a nearby neighborhood.
b. A pulp mill emits chlorine pollution into the water, harming members of society.
c. A welding shop makes a lot of noise, reducing the property values of nearby homes.
d. A person goes to a store and pay $0.75 for a candy bar that he can eat.
a
Economics
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Which of the following refers to extremely high rates of inflation for sustained periods of time?
a. deflation b. hyperinflation c. bust d. depression
Economics
A purely competitive firm is precluded from making economic profits in the long run because:
A. it is a "price taker." B. its demand curve is perfectly elastic. C. of unimpeded entry to the industry. D. it produces a differentiated product.
Economics