Which Combination of Factors Would Definitely Increase the Width of a Confidence

question 3

Multiple Choice

Which combination of factors would definitely increase the width of a confidence interval?

• A)Increase the sample mean and increase the sample size
• B)Decrease the sample mean and increase the sample size
• C)Increase the sample mean and increase the percentage of confidence
• D)Decrease the sample mean and decrease the percentage of confidence

Differentiate between private and social costs, and private and social values.

Identify the conditions for social optimality in the presence of externalities.

Calculate the optimal level of subsidy or tax required to achieve social optimality.

Interpret graphical representations of markets with externalities.

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Definitions:

Public Park

An area of land, usually owned and maintained by government agencies, designated for public use and enjoyment, often featuring natural or landscaped spaces.

Pigouvian Subsidy

A subsidy on goods or services that have positive externalities, aimed at encouraging activities that are beneficial for society.

External Benefits

The positive effects or advantageous consequences of a product or service that are enjoyed by individuals or groups who did not directly purchase or consume the product or service.

Pigouvian

Relating to taxes or policies introduced to correct the effects of negative externalities in the market.