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Question
Which of the following is the best example of a common-resource good?
a. a fireworks display
b. a lighthouse
c. cable television
d. fish in a lake
e. the production of gasoline
Answer
This answer is hidden. It contains 57 characters.
Related questions
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The city decides to offer a subsidy to each homeowners association that plants more flowers in their common areas. In the market for flowers, this will cause the
a. supply curve to shift to the left.
b. supply curve to shift to the right.
c. demand curve to shift to the left.
d. demand curve to shift to the right.
e. the supply curve to shift to the left and the demand curve to shift to the right.
Q:
The market works efficiently in the absence of externalities if the good is
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b. nonrival and nonexcludable.
c. rival and nonexcludable.
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Which rule would NOT protect fish populations?
a. limiting the length of the fishing season
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e. catching any fish except males
Q:
The tragedy of the commons occurs for goods that area. rival and excludable. b. rival and nonexcludable. c. nonrival and nonexcludable.d. nonrival and excludable.e. never produced by the government.
Q:
The quantity produced of a common-resource good is likely to deviate from the socially optimal quantity because
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Q:
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Q:
If a store sells a good at the market price, even though the government authorities have set the minimum price that can be charged, the store is selling the good in a(n)
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Q:
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Q:
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a. will never be able to negotiate to correct a negative externality.
b. can always negotiate to correct a negative externality.
c. can negotiate to correct a negative externality if there are no barriers to negotiation.
d. can negotiate to correct a negative externality if the government passes a law allowing them to do so.
e. can never negotiate to correct a negative externality if there are more than two parties involved.
Q:
Clean air becomes polluted because
a. it is a private good.
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Q:
External benefits arise from the actions of
a. firms.
b. consumers.
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Q:
What makes an externality positive rather than negative?
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b. The socially optimal quantity exchanged is less, not greater, than at market equilibrium.
c. The externality affects the demand curve rather than the supply curve.
d. The externality benefits third parties rather than harming them.
e. The externality becomes internalized without government action.
Q:
Consider the accompanying figure to answer the following questions.When a positive externality exists, which point best identifies the social optimum?a. A b. B c. Cd. De. either A or D
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When people elect to spend more years in school, this results in a ________ externality because there are ________ associated with this decision.a. negative; internal costs b. negative; external costs c. positive; external benefitsd. positive; external costse. positive; internal benefits
Q:
The government imposes a tax on the sale of a good whose production is creating a negative externality. The value of the tax is $4 per unit sold. In the new equilibrium, we would expect
a. the same amount to be sold and the price to be $4 higher.
b. the same amount to be sold and the price to increase by less than $4.
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