Market imperfections are often brought about by externalities. If there are external benefits or positive externalities associated with consumption and production of a particular product in Canada, it can be said that the: Multiple Choice government should consider placing a special tax on producers. supply curve for the product lies too far to the right to provide an efficient allocation of resources. demand curve understates the total benefit from the product and resources are under-allocated to its production. government should consider prohibiting the production of the commodity.

Market imperfections are often brought about by externalities. If there are external benefits or positive externalities associated with consumption and production of a particular product in Canada, it can be said that the: Multiple Choice government should consider placing a special tax on producers. supply curve for the product lies too far to the right to provide an efficient allocation of resources. demand curve understates the total benefit from the product and resources are under-allocated to its production. government should consider prohibiting the production of the commodity.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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