When a Positive Externality Is Present in a Market, Consumers

question 23

Multiple Choice

When a positive externality is present in a market, consumers will purchase _______ the socially optimal quantity.

• A)more than
• B)the same amount as
• C)zero, unlike
• D)less than

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Definitions:

Accumulated Value

In computing and data processing, this term refers to a total that increases over time as more data or units are added.

Preset Value

A predefined or user-set value that determines when a certain action should be taken or when a specific condition is met within a system.

Timed Contact

"A normally open and/or normally closed contact that is actuated at the end of a timer’s time-delay period."