Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Complete the following sentences: 1- ....... refer to a special type of externality that depends on the relative rankings of actors in a situation. 2-

image text in transcribed
Complete the following sentences: 1- ....... refer to a special type of externality that depends on the relative rankings of actors in a situation. 2- ..... ..is an action of a product on consumers that imposes a negative effect on a third party; it is external cost. 3- ........ ..........is a tax imposed that is equal in value to the negative externality. 4- If all parties involved can easily organize payments so as to pay each other for their actions, then an efficient outcome can be reached without government intervention, this is known as...... 5- There are general types of solutions to the problem of externalities which are...... 6- A.......... ....would increase the utility of third parties at no cost to them. 7- ......... ........represents a connection between economic agents which lies outside the price system of the economy

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Marketing And Export Management

Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr

8th Edition

9781292016924

Students also viewed these Finance questions