Which of the Following Statements About a Market That Is

question 86

Multiple Choice

Which of the following statements about a market that is affected by a positive production externality is correct?

• A)the optimum level of output is less than the free market level of output and the optimum price is greater than the free market price
• B)the optimum level of output is greater than the free market level of output and the optimum price is less than the free market price
• C)the optimum level of output is greater than the free market level of output and the optimum price is greater than the free market price
• D)the optimum level of output is less than the free market level of output and the optimum price is less than the free market price

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Definitions:

Genetic Factors

Refers to the traits and conditions influenced by the genes inherited from one's parents, affecting physical and perhaps behavioral characteristics.

Environmental Factors

External elements like climate, pollution, and social settings that can influence an individual's health, behavior, and development.

Prototypes

Original or first examples that serve as a model or benchmark for subsequent versions in product development, design, or conceptualization.

Exemplars

Instances or examples that are typical of a category or group, used in cognitive psychology to understand how people categorize information.