[Solved] Which of the Following Statements Is True Regarding Marginal Social

What are external costs? A)The costs involved in exporting products abroad. B)The costs that are suffered by outside workers. C)The costs that are suffered by people other than the producers or consumers of a product. D)The costs that are imposed on plants which are located abroad.

What are external benefits? A)The benefits that are enjoyed by people other than the producers or consumers of a product. B)The benefits that are enjoyed by outside workers. C)The benefits that are obtained from importing products from abroad. D)The benefits that a firm obtains from opening up plants abroad.

What are externalities? A)The extra cost involved in the packaging and marketing of a product. B)The additional costs of a product which cannot be recouped from the government. C)The extra cost to the consumers of a product in terms of maintenance and insurance. D)The benefits or costs of a product experienced by people who neither consume nor produce that product.

All of the following,except one,are examples of quasi-public goods in Canada.Which is the exception? A)Military defence. B)Postal services. C)Individual health care. D)Education.

All of the following,except one,are valid reasons why many governments provide quasi-public goods? A)Because collecting fees from users might be too costly. B)Because market competition is sometimes inefficient in the provision of certain services. C)Because quasi-public goods produce extensive externalities. D)Because private firms would not be able to provide those services.

All of the following,except one,are methods by which society can integrate external costs into the market process.Which is the exception? A)By subsidizing buyers. B)Cap and trade C)Through legislative controls. D)By taxing producers.

If the government imposes a tax on buyers as a way of reducing pollution,which curve is affected and how? A)The supply curve shifts to the right. B)The supply curve shifts to the left. C)The demand curve shifts to the right. D)The demand curve shifts to the left. E)Neither the demand nor the supply curve is affected but the price will increase.

-Refer to the graph above to answer this question.What is the equilibrium market price? A)0a. B)0b. C)0c. D)0d

-Refer to the graph above to answer this question.If a per unit tax equal to the external costs was imposed on the sellers of this product,what would be the amount of the tax? A)ab. B)bc. C)bd. D)cd.

-Refer to the graph above to answer this question.If a per unit tax equal to the external costs was imposed on the sellers of this product,what would be the equilibrium price? A)0a. B)0b. C)0c. D)0d.