In General, Positive Externalities Result in

question 157

Multiple Choice

In general, positive externalities result in

• A)too much of a good being produced compared to the socially optimal level.
• B)the socially optimal output of a good being produced.
• C)too little of a good being produced compared to the socially optimal level.
• D)a higher price compared to the price charged at the socially optimal level.

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Definitions:

Range

The difference between the highest and lowest values in a dataset, indicating the spread of the data.

Variability

A statistical measure that describes the dispersion or spread of data points in a data set.

Standard Deviation

A statistical measure of the dispersion or variability of a set of data points around their mean.

Mean Deviation

The average deviation for all scores from the mean of a distribution, calculated as the sum of the absolute value of the scores’ deviations from the mean divided by the number of scores.