When the Benefits to Society of Using a Product Exceed

question 110

Multiple Choice

When the benefits to society of using a product exceed the benefits to the user,then _____

• A)the product should be strictly regulated.
• B)the product should be taxed.
• C)the product provides a positive externality.
• D)the product is overproduced at the privately determined equilibrium.
• E)the product provides a negative externality.

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Definitions:

Chebysheff's Theorem

A statistical theorem that provides a minimum probability for the distribution of values within k standard deviations from the mean for any data set, regardless of the distribution's shape.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values from the average.

Standard Deviation

An indicator of the degree of variation or spread within a collection of numbers.

Variability

The extent to which data points in a data set differ from each other and from the mean.