The Existence of Marginal External Benefits for a Product Like

question 234

Multiple Choice

The existence of marginal external benefits for a product like higher education creates a deadweight loss for society because,without government intervention,________ would be consumed and ________ would be produced.

• A) more than the efficient amount; more than the efficient amount
• B) more than the efficient amount; less than the efficient amount
• C) less than the efficient amount; more than the efficient amount
• D) less than the efficient amount; less than the efficient amount
• E) the efficient amount; the efficient amount

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Definitions:

Interrelations

The ways in which two or more things or phenomena are connected and affect each other.

Focus of Attention

The allocation of cognitive resources towards a specific stimulus or task at any given time.

Psychologists

Psychologists are professionals who study mental processes, behavior, and the psychological aspects of human experience.

Culture

The social behavior, norms, knowledge, beliefs, arts, laws, customs, capabilities, and habits of the members of a society or community.