In the Presence of Positive External Benefits, the Efficient Price

question 19

Multiple Choice

In the presence of positive external benefits, the efficient price to charge parents for the education of their children is

• A)always zero.
• B)greater than the market price.
• C)always positive.
• D)less than the market price.

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Definitions:

Comparative Fault

A legal principle that reduces the claimant's damages award based on the percentage of their fault in contributing to their own harm.

Abnormally Dangerous

Activities or operations that inherently pose a significant risk of harm to others, regardless of the precautions taken.

Negligent

Failing to take proper care in doing something, leading to damage or injury to others.

Intended Harm

Intended harm refers to injuries or damages that were willfully caused by an individual’s actions, with the knowledge and purpose of causing harm.