Consider a setting in which there is a negative externality, but no positive externality. It follows that
A) the market outcome is inefficient.
B) the market outcome is efficient.
C) MSC > MPC
D) MPC > MSC
E) a and c
E
Economics
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In general, the more resources that are devoted to technological research, the
A) greater is current consumption. B) higher is the unemployment rate. C) faster the PPF shifts outward. D) more the PPF will bow outward.
Economics
Goods can be classified on the basis of whether their consumption is
A) includable and cooperative. B) rival and excludable. C) internal and excludable. D) rival and competitive.
Economics