In the case of an external benefit generated by an activity, such as education, a private subsidy ...

In the case of an external benefit generated by an activity, such as education, a private subsidy for that activity can achieve an efficient outcome.

Indicate whether the statement is true or false

Ques. 2

What does the deadweight loss from monopoly measure?

What will be an ideal response?

Ques. 3

If an activity has an external benefit, such as education, a tax on that activity can lead to the efficient level of output being produced.

Indicate whether the statement is true or false

Ques. 4

What factor(s) enable a monopoly to make an economic profit in the long run?

What will be an ideal response?

Ques. 5

Even though household have wide-ranging preferences, discuss some of the things that all households have in common including their constraints.

What will be an ideal response?

Ques. 6

One way that government can encourage the production of goods or services that have external benefits is to subsidize the good or service.

Indicate whether the statement is true or false

Ques. 7

Can an unregulated monopoly make an economic profit in the long run? Explain your answer.

What will be an ideal response?

Ques. 8

What is the relationship between marginal cost and fixed cost?

What will be an ideal response?

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In the case of an external benefit generated by an activity, such as education, a private subsidy ...

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