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

Related Mcqs:

1. 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...

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. Differences in wages that result from differences in working conditions are known as ?

   A. occupational differentials B. search differentials C. job differentials. D. compensating differentials...

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

   A. non-rivalry B. the free-rider problem C. the Coase theorem D. the fallacy of composition...

5. If a producer has market power (can influence the price of the product in the market) then free market solutions ?

   A. are equitable. B. are efficient C. maximize consumer surplus D. are inefficient...

6. If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge ?

   A. The higher price in market A B. The higher price in market B C. The same Price in both markets D. Cannot tell which price will be higher...

7. If input price prices adjusted very rapidly to output prices as classical economists argue the Philips curve would be ?

   A. Vertical or nearly vertical B. upward sloping C. downward sloping D. horizontal or nearly horizontal...

8. Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?

   A. purchase; decrease B. purchase; increase C. sell; increase D. sell; decrease...

9. If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?

   A. downward sloping B. perfectly inelastic C. upward sloping D. perfectly elastic...

10. Taxes creates a wedge between the sales price and purchase price that prevents the price system equating ____ and ______?

    A. marginal costs, marginal benefits B. demand, supply C. marginal cost, marginal revenue D. marginal cost, average cost...