Market Failures
Help!
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| What do you refer when you talk about nagetive production externalities? | 1- Negative externalities of production refer to external costs created by producers.
2- It refer to internal costs created by firms.
3- Both of them.
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| What are the reasons for underprevision? | 1- The good may have positive externalities.
2- Low levels of income and property.
3-Consumer ignorance.
4- All the options are correct.
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| Governments can also pursue policies relying on the market to correct externalities like: | 1- Taxes
2- Subsidies
3- Tradable permits
4- All answers are correct.
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| What are the possible government responses for asymmetric information? | 1- Regulation and provision of information.
2- Ban the access to the information.
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| Monopoly power is considered to be socially undesirable because it leads to: | 1- Allocative inefficiency.
2- Productive inefficiency.
3- Lower output and a higher price of the industry than the output and price of a more competitive market.
4- All the answers are correct.
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Created by:
mariavarela
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