ch 10 Flashcards
1
Q
in a positive externality, marginal private benefit is lesser than…
A
marginal social benefit
2
Q
how much is produced and consumed in a positive externality
A
too little
3
Q
in a negative externality, marginal private cost is lesser than..
A
marginal social cost
4
Q
how much is produced in a negative externality
A
too much
5
Q
a public good is
A
non rival and non excludable
6
Q
a private good is
A
rival and excludable
7
Q
A
