MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Question
Chapter 3, Problem 13QE
To determine
Merit good, demerit good, public good, and good that involves an externality.
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Chapter 3 Solutions
MICROECONOMICS
Ch. 3.1 - Prob. 1QCh. 3.1 - Prob. 2QCh. 3.1 - Prob. 3QCh. 3.1 - Prob. 4QCh. 3.1 - Prob. 5QCh. 3.1 - Prob. 6QCh. 3.1 - Prob. 7QCh. 3.1 - Prob. 8QCh. 3.1 - Prob. 9QCh. 3.1 - Prob. 10Q
Ch. 3 - Prob. 1QECh. 3 - Prob. 2QECh. 3 - Prob. 3QECh. 3 - Prob. 4QECh. 3 - Prob. 5QECh. 3 - Prob. 6QECh. 3 - Prob. 7QECh. 3 - Prob. 8QECh. 3 - Prob. 9QECh. 3 - Prob. 10QECh. 3 - Prob. 11QECh. 3 - Prob. 12QECh. 3 - Prob. 13QECh. 3 - Prob. 14QECh. 3 - Prob. 15QECh. 3 - Prob. 16QECh. 3 - Prob. 1QAPCh. 3 - Prob. 2QAPCh. 3 - Prob. 3QAPCh. 3 - Prob. 4QAPCh. 3 - Prob. 5QAPCh. 3 - Prob. 1IPCh. 3 - Prob. 2IPCh. 3 - Prob. 3IPCh. 3 - Prob. 4IPCh. 3 - Prob. 5IPCh. 3 - Prob. 6IPCh. 3 - Prob. 7IPCh. 3 - Prob. 8IPCh. 3 - Prob. 9IPCh. 3 - Prob. 10IP
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- For each government action, indicate the type of government activity and justification. Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. a) New York City bans smoking in restaurants. ? Externality ? Public good ? Market regulation ? Redistribution b) Congress renews the food stamp program, which gives poor people access to groceries at a discount. ? Externality ? Public good ? Market regulation ? Redistribution Next> 23 of 67 < Prev W to searcharrow_forwardThe AstraZeneca vaccine is considered to be what type of good? * a.Private Good b.Demerit Good c.Public good d.Merit Goodarrow_forwardThe chapter defines private enterprise as a characteristics of market-oriented economies. What would public enterprise be? It is a characteristics of a command economies.arrow_forward
- Solvearrow_forwardFrederick Bastiat and Jean Jacques Rousseau would most likely agree on which of the following: The purpose of Law is to drive social change. Any discussion of Law and Justice must include analysis of the relationship between the individual and the group. One individual may destroy the rights of another, so long as he does so to preserve his own rights. There is never a good reason for an individual to sacrifice his / her rights.arrow_forwardSome Caribbean countries give tax credits to homeowners who wish to install solar panels in their homes. This is an example of: Select one: a. Cost-benefit analysis as homeowners compare the marginal benefits to marginal costs before making a decision. b. Only a case of the use of government tax policy. c. The use of the incentive principle to encourage homeowners to use alternative sources of energy. d. A bad decision because homeowners are not paying the full cost of installing solar panels.arrow_forward
- Give one merit and one demerit of a socialist economy?arrow_forwardIn rural or urban areas, why some economist suggested that we need to focus on the following sectors: agriculture, manufacturing, commerce and services?arrow_forwardImagine that a town of 200 people is trying to decide whether to pay for mosquito control. The town has surveyed their citizens and they each say they value mosquito control at $75. Mosquito control only costs $2,500 so the town goes ahead and pays for the service. When the town asks for donations to pay for the mosquito control, they only receive $1,000. What does this result show? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a The town's citizens were free riders. b The mosquito control suffered from the tragedy of commons. The mosquito control cost must have been greater than its economic benefit. d. The town's survey must have overestimated the value of mosquito control.arrow_forward
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