Externalities and Public Goods

Multiple Choice Questions

After watching the Externalities and Public Goods video lecture, consider the question(s) below. Then “submit” your response.

Question

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Question

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Question

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Question

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

True/False Questions

After watching the Externalities and Public Goods video lecture, consider the question(s) below. Then “submit” your response.

Question

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Question

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

Question

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

Short Answer/Discussion Questions

After watching the Externalities and Public Goods video lecture, consider the question(s) below. Then “submit” your response.

Question

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Controlling pollution frequently requires a firm to invest in new and possibly higher cost technology to achieve the desired pollution reductions. These higher costs might cause the firm’s overall production costs to increase. With higher costs, the firm might have difficulty in matching the prices of firms that didn’t make pollution control investments. Thus, the firm might not earn acceptable profits.

Question

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Suggested solution: A public beach is nonexcludable but it is rival in consumption. Assuming that, because the beach is a public facility, there are no entrance restrictions, the beach would be nonexcludable. Should the beach become severely congested, it would be rival (the opposite of nonrival) in consumption because use of the beach’s facilities by any one person impacts the enjoyment of other beachgoers.

Question

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Suggested solution: Private markets have difficulty earning profits from the production of many public goods. This is because these goods are both nonrival and nonexcludable. Examples are national defense, public safety, and clean air. In the absence of a profit opportunity, private industry will not produce a good, but in response to the presence of public need for such socially desirable goods, the government can (as a result of its ability to tax) step in to produce these goods.