In an Unregulated Market with an External Benefit,the

question 41

Multiple Choice

In an unregulated market with an external benefit,the

• A) quantity produced is greater than the efficient quantity.
• B) price charged is too high for efficiency.
• C) quantity produced is less than the efficient quantity.
• D) producer is causing pollution but not paying for it.
• E) government might impose a tax to help move the market toward the efficient amount of production.

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Definitions:

Industrial Revolution

The period of major industrialization that took place during the late 1700s and early 1800s, significantly transforming agriculture, manufacturing, and transportation worldwide.

Millions

A numeral term signifying a thousand thousands, or 1,000,000 units of a given quantity.

Alkaline Substances

Alkaline substances are compounds that have a pH level greater than 7, indicating a basic property as opposed to acidic.

River Water

Water found in rivers, which is often a source of freshwater for communities, agriculture, and ecosystems.