Practice Assignment 5- ECON
1001 with complete verified
solutions
The private cost of producing a good will differ from the social cost
A. when there is an externality, such as acid rain generated by the
production of electricity.
Your answer is correct.
B.
when there is an externality, such as lower crime rates generated by the
consumption of education.
C.
when there are property rights, where individuals or businesses have
exclusive use of their property.
D.
when there is no externality, such as in the production of ice cream.
E.
both a and b. - answer A. when there is an externality, such as acid rain
generated by the production of electricity.
When will the private benefit from consuming a good differ from the social
benefit?
A. when there is an externality, such as second-hand smoke generated by
the consumption of cigarettes.
B.
when there is an externality, such as fewer diseases generated by the
consumption of vaccines.
, C.
when there is no externality, such as in the consumption of apples.
D.
when there is an externality, such as sulfur dioxide generated by the
production of paper products.
E.
both a and b. - answer A. when there is an externality, such as second-hand
smoke generated by the consumption of cigarettes.
B.when there is an externality, such as fewer diseases generated by the
consumption of vaccines.
(**A and B**)
The private benefit is ________, while the social benefit is ________.
A. the benefit received by the consumer of a good or service; the external
benefit
B.
the benefit received by the consumer of a good or service; the total benefits
from consuming the good or service
Your answer is correct.
C.
the total benefit from consuming the good or service; the benefit received by
the consumer of a good or service
D.
None of the above. - answer B. the benefit received by the consumer of a
good or service; the total benefits from consuming the good or service
A positive externality causes
A.
1001 with complete verified
solutions
The private cost of producing a good will differ from the social cost
A. when there is an externality, such as acid rain generated by the
production of electricity.
Your answer is correct.
B.
when there is an externality, such as lower crime rates generated by the
consumption of education.
C.
when there are property rights, where individuals or businesses have
exclusive use of their property.
D.
when there is no externality, such as in the production of ice cream.
E.
both a and b. - answer A. when there is an externality, such as acid rain
generated by the production of electricity.
When will the private benefit from consuming a good differ from the social
benefit?
A. when there is an externality, such as second-hand smoke generated by
the consumption of cigarettes.
B.
when there is an externality, such as fewer diseases generated by the
consumption of vaccines.
, C.
when there is no externality, such as in the consumption of apples.
D.
when there is an externality, such as sulfur dioxide generated by the
production of paper products.
E.
both a and b. - answer A. when there is an externality, such as second-hand
smoke generated by the consumption of cigarettes.
B.when there is an externality, such as fewer diseases generated by the
consumption of vaccines.
(**A and B**)
The private benefit is ________, while the social benefit is ________.
A. the benefit received by the consumer of a good or service; the external
benefit
B.
the benefit received by the consumer of a good or service; the total benefits
from consuming the good or service
Your answer is correct.
C.
the total benefit from consuming the good or service; the benefit received by
the consumer of a good or service
D.
None of the above. - answer B. the benefit received by the consumer of a
good or service; the total benefits from consuming the good or service
A positive externality causes
A.
