In a free market, the quantity of a good that produces an externality will always be greater than is socially optimal. True False Explain. True or false? Taxes can be justified if the government uses the revenue to clean up negative externalitie...
where the targets of study are evolutionary processes that occurred in the ancestors of present-day humans. In many cases, the evidence is both very sparse and very indirect (e.g., archaeological
producer surplus is the triangle formed by the Y axis, the bottom part of the supply curve below the equilibrium price, and the horizontal line at the equilibrium price.
aif private players don't get sufficient incentive for the goods they are producing, there will be under allocation of resources or under production or it can be understood as they will produce less than the socially optimal output( the output which is ideal for society) because private producer...
The essential assessment task is to find EC wherever it emerges—even if it is socially unacceptable! At times, creative process is part of product, as with an auto mechanic who made his own tools, or certain parents. “It is less what we do than how we do it” (Richards, 2010) Yet...
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Why is it difficult for private markets to provide the optimal quantity of a public good? Why is it difficult for government to provide the optimal quantity of a public good? Why is it unlikely that a private market would produce the socially optimal l...
Is the statement true or false? True or false. Efficiency cannot be achieved when externalities exist. Explain. In a free market, the quantity of a good that produces an externality will always be greater than is socially optimal. T...
In a free market, the quantity of a good that produces an externality will always be greater than is socially optimal. True False Explain. A subsidy is a positive externality. True False True or False: The market produces...
We will argue that much of the criticism of genetic engineering is unfounded, both on the natural science and the social science aspects. With sound regulation, we can overcome most concerns regarding GE in agriculture in order to allow the sustainable and equitable utilization of biotechnology. ...