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Principles of Microeconomics

Business

Quiz 16 :

Externalities, Public Goods, and Common Resources

Quiz 16 :

Externalities, Public Goods, and Common Resources

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Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. img Figure 16.1 -Refer to Figure 16.1. ________, 60 bags of fertilizer will be produced.
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Multiple Choice
Answer:

Answer:

C

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Vaccinations convey ________ to third parties.
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Answer:

A

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Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. img Figure 16.1 -Refer to Figure 16.1. The ________ imposed as a result of producing the efficient level of fertilizer is $250.
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Multiple Choice
Answer:

Answer:

B

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A well-maintained house and yard is an example of
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Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. img Figure 16.1 -Refer to Figure 16.1. What is the total damage imposed as a result of producing the efficient level of fertilizer?
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Assuming there are no externalities, if a firm is producing at an output level where the benefits to consumers are less than the cost to the suppliers to produce it, then price
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Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. img Figure 16.1 -Refer to Figure 16.1. To force this firm to produce the ________ level of output, the government should ________ of $5.00 per bag of fertilizer.
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The many types of pollution do not include ________ pollution.
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Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. img Figure 16.1 -Refer to Figure 16.1. The efficient amount of fertilizer is
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Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. img Figure 16.1 -Refer to Figure 16.1. The ________ amount of fertilizer is 50 bags.
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Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. img Figure 16.1 -Refer to Figure 16.1. Absent government intervention, how much fertilizer will be produced?
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Air pollution generated by a steel mill is an example of
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Assuming there are no externalities, if a firm is producing at an output level where the benefits to consumers exceed the cost to the suppliers to produce it, then price
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Second hand cigarette smoke is an example of a(n)
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Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. img Figure 16.1 -Refer to Figure 16.1. What is the total damage imposed as a result of producing the market (unregulated) level of fertilizer?
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An externality is
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The field of environmental economics is concerned with
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Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. img Figure 16.1 -Refer to Figure 16.1. The ________ imposed as a result of producing the market (unregulated) level of fertilizer is $300.
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Assuming no externalities exist, if a good's price is less than its marginal cost, then the benefits consumers derive are
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Refer to the information provided in Figure 16.1 below to answer the question(s) that follow. img Figure 16.1 -Refer to Figure 16.1. To force this firm to produce the efficient level of output, the government should impose a tax of
Multiple Choice
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