Markets, Efficiency And The Public Interest

A. a beautifully landscaped lawn.
B. preservation of wetlands
C. a public utility.
D. a book

A. non-rival in consumption and their benefits are nonexcludable:
B. rival in consumption and their benefits are excludable
C. rival in consumption and their benefits are non-excludable
D. non-rival in consumption and their benefits excludable

A. households do not have perfect information
B. firms are not price takers in input markets
C. firms are not price takers in the output market
D. all of the above

A. industry equilibrium analysis
B. specific equilibrium analysis
C. partial equilibrium analysis
D. general equilibrium analysis

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

A. marginal damage cost
B. marginal social cost
C. marginal private cost
D. marginal external cost

A. raising the price of X.
B. production less X
C. Producing more X
D. Increasing the cost of producing X