No explanation needed

1.In which of the following scenarios does total revenue decrease?

Group of answer choices

price elasticity of demand is 1.0 and the price of the good decreases

price elasticity of demand is 2.1 and the price of the good increases

price elasticity of demand is 2.1 and the price of the good decreases

price elasticity of demand is 0.2 and the price of the good increases

2.When positive externality is present in a market

the market "underproduces"

none of the above

the market outcome is optimal

the market "overproduces"

3.When negative externality is present in a market

Group of answer choices

social costs are greater than private costs

the market is not able to reach any equilibrium

private costs are greater than social costs

only government regulations can solve the problem

4.Internalizing an externality refers to making

Group of answer choices

sellers pay the full costs of production

certain that all market transaction benefits go to only buyers and sellers

buyers pay the full price for the products they purchase

buyers and sellers take into account the external effects of their actions

5. According to the theory of consumer's choice, "utility" refers to

Group of answer choices

the satisfaction a consumer receives from consuming a bundle of goods

none of the above

the satisfaction a consumer places on their budget constraint

the income a consumer spends a bundle of goods