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Question
Siris neighbor is an avid gardener who changes his flower displays four times per year and who was given the best yard on the block award last year. While Siri personally enjoys these changing flower displays, some of her neighbors have said they do not like some of the flowers her neighbor chooses to plant. For Siri, this is an example of
a. a positive externality.
b. the tragedy of the commons.
c. an internal cost.
d. internalizing the external cost.
e. a negative externality.
Answer
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Related questions
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Price gouging laws will usually result in ________ the product in the distressed market.
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The economic entity most likely to engage in price gouging is
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a. He or she will substitute away from the product.
b. He or she will substitute toward the product.
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Q:
What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
b. A surplus will continue to exist and will grow smaller over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
a. Prices in the legal market in the community with a binding price ceiling will rise.
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b. The binding price ceiling will discourage patients from obtaining the drugs they need.
c. The binding price ceiling will increase the likelihood that consumers will obtain needed drugs on the black market.
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Q:
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Q:
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Q:
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Q:
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Q:
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Q:
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