If a Market Is Characterized by a Positive Externality That

question 95

Multiple Choice

If a market is characterized by a positive externality that is not the result of a technology spillover,

• A)the socially optimal level of output is less than the equilibrium level of output, and the optimal price is greater than the equilibrium price.
• B)the socially optimal level of output is greater than the equilibrium level of output, and the socially optimal price is less than the equilibrium price.
• C)the socially optimal level of output is greater than the equilibrium level of output, and the socially optimal price is greater than the equilibrium price.
• D)the socially optimal level of output is less than the equilibrium level of output, and the socially optimal price is less than the equilibrium price.

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Definitions:

Schizophrenia

A mental disorder characterized by disruptions in thought processes, perceptions, emotional responsiveness, and social interactions.

Mini-Mental State Examination (MMSE)

A 30-point questionnaire test used to screen for cognitive impairment and to estimate the severity and progression of cognitive impairment.

Cognitive Impairment

A decline in mental functions such as memory, attention, and decision-making, which can interfere with daily activities and quality of life.

Delirium

An acute, often sudden, state of confusion and disorientation due to physical or mental illness.