Which of the Following Is True of Markets Characterized by Positive

question 130

Multiple Choice

Which of the following is true of markets characterized by positive externalities?

• A)Social value exceeds private value, and market quantity exceeds the socially optimal quantity.
• B)Social value is less than private value, and market quantity exceeds the socially optimal quantity.
• C)Social value exceeds private value, and market quantity is less than the socially optimal quantity.
• D)Social value seldom exceeds private value; therefore, social quantity is less than private quantity.

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Definitions:

Group Socialization

The process through which individuals learn the values, norms, and behaviors acceptable to a particular group or society.

Moreland And Levine's Model

A theoretical framework describing the stages of group membership from joining a group to leaving it, focusing on the integration process and the dynamics of group development.

Maintenance

The actions taken to preserve or keep a system, process, or facility working efficiently and effectively.

Remembrance

The act of remembering or honoring the memory of someone or something.