When Products That Create Positive Externalities Are Produced, at the Market

question 24

True/False

When products that create positive externalities are produced, at the market equilibrium output, the social benefit generated by consuming the product exceeds the private benefit.

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Definitions:

Constituencies

Groups of supporters, customers, or potential voters who back a particular organization, politician, or political agenda.

Agents

Individually authorized entities or people who act on behalf of others in various transactions or negotiations.

Use

Use refers to the act of employing something or someone for a particular purpose.

Exceeding Authority

Acting beyond or exceeding the powers or rights officially granted to an individual or body.