30.

Which of the following is most likely to happen to open-access wildlife resources in a free market with no cooperation?

Group of answer choices

It will be unprofitable to use them.

They will not be used at all.

They will be used but will generate no profit.

They will be used efficiently.

They will become extinct.

31.

If a negative externality exists in the production of paper and paper is sold in a perfectly competitive market, then at the non-regulated equilibrium output:

Group of answer choices

the marginal social benefit of paper equals its marginal social cost.

additional net gains to society are possible by reducing the output of paper.

additional net gains to society are not possible from either increasing or decreasing the output of paper.

additional net gains to society are possible by increasing the output of paper.

32.

If the benefit of a public good is small to each individual in a society of millions of individuals:

Group of answer choices

we know the private market will produce the optimal quantity

it will not be efficient for government to provide it if the provision costs exceed the benefit that any single individual would receive.

the total benefit will be small since the benefit to each individual is small.

the total benefit will be large since social benefit is the sum of all individual benefits.

33.

Economists view pollution as an economic problem that arises because

Group of answer choices

of self-interest

private enterprise has no incentive to ever reduce pollution

government intervention in the free market

income inequality

34.

If the marginal benefit of one more unit of a public good is $500 for Sam and $300 for Alex, the social benefit of one more unit of a public good is:

Group of answer choices

$400 since that is the average benefit.

$800 since the benefit of one more unit goes to both individuals.

$300 since the benefit will go to the person who values it least.

$500 since the benefit will go to the person who values it most.