Since Air Pollution Creates a Negative Externality

question 64

Multiple Choice

Since air pollution creates a negative externality,

• A)social welfare will be enhanced when some, but not all air pollution is eliminated.
• B)social welfare is optimal when all air pollution is eliminated.
• C)governments should encourage private firms to consider only private costs.
• D)the free market result maximizes social welfare.

Distinguish between nonvascular and vascular plants and their reproductive structures.

Understand significant evolutionary events in plant history.

Describe major evolutionary trends in the plant kingdom, including changes in the dominant life cycle stages.

Understand the basic differences between the life cycles of mosses, ferns, liverworts, ginkgoes, and gnetophytes.

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Definitions:

Increase in Demand

A situation in which more of a product or service is desired, leading to a shift of the demand curve to the right.

Ceteris Paribus

A phrase in Latin that translates to "with all other conditions remaining the same," employed to examine the impact of a single variable while holding others constant in economic studies.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market equilibrium.

Equilibrium Quantity

The amount of products or services available and sought after at the market's balance price.