If a large number of individuals are affected by an external benefit, private bargaining will not work because of ?

Related Mcqs:

1. Market price adjusted to consider differences between social cost-benefit and private cost-benefit calculations are ?

   A. price distortions
   B. consumer surplus
   C. shadow prices
   D. exchange rates

2. When you consume good Q, not only do you benefit form consuming the good but other people benefit from your consumption as well, if firms produce good Q where P = MC, firms will be producing ?

   A. less than the efficient level of output
   B. more than the efficient level of output
   C. so that consumer surplus is zero
   D. the efficient level of output

3. If goods are exported for less than society’s marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from?

   A. an import subsidy
   B. a quota
   C. comparative advantage
   D. an export subsidy

4. The external benefits of using cars are ____ and the external costs are _____?

   A. low; low
   B. high; high
   C. low; high
   D. high; low

5. Shareholders of a corporation elect individuals to carry out certain tasks that are establishment in the charter. What these individuals are called ?

   A. Management
   B. Board of Governor
   C. Top brass
   D. Board of Directors

6. A ________ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything?

   A. demand
   B. basic staple
   C. product
   D. service

7. Which scholar argues the following Plantations have no significant advantage over peasants [for] crops for which centralized processing and marketing are not necessary Cocoa and coconuts are typical examples of a lack of large scale economies Peasants can grow and process these crops in small lots with no large capital requirement beyond small indigenous tools and facilities ?

   A. Yujiro Hayami
   B. Raanan Weitz
   C. Hans Singer
   D. Tim Dyson

8. If marginal benefit is greater than marginal cost, a rational choice involves ?

   A. no more of the activity.
   B. less of the activity
   C. more of the activity
   D. more or less, depending on the benefits of other activities

9. Name the political and economic system in which the government owns and controls the means of production to benefit all the people ?

   A. Communism
   B. Socialism
   C. Capitalism
   D. Authoritarianism

10. A benefit to consumers of price discrimination is that ?

    A. Some products are produced that would not otherwise be produced
    B. Producer surplus increases
    C. Consumer surplus decreases
    D. Firm’s profits increase