Question 2 (1 point) Listen If the government wants to correct for a positive externality, it might impose an excise tax to encourage sellers to produce less. provide a subsidy to encourage sellers to produce more. impose an excise tax to encourage sellers to produce more. provide a subsidy to encourage sellers to produce less.Question 14 (1 point) Listen We can find private marginal benefits by subtracting external benefits from social marginal benefits. subtracting social marginal benefits from external benefits. dividing private marginal benefits by external benefits. multiplying private marginal benefits by external benefits.Question 9 (1 point) Listen 4 To arrive at social marginal costs, we must subtract private marginal costs from external costs. 7 subtract external costs from private marginal costs. add external benefits to private marginal benefits. 10 add external costs to private marginal costs.Question 11 (1 point) Listen A positive externality occurs when O all the costs to society are not captured in the private demand curve. all the benefits to society are not captured in the private demand curve. all the benefits to society are not captured in the private supply curve. all the costs to society are not captured in the private supply curve.Question 13 (1 point) Listen A flu vaccine only benefit the person getting it. is a good example of a positive externality. O is a good example of a negative externality. involves external costs not accounted for in the free market.Question 15 (1 point) Listen The optimal quantity of a good associated with a negative externality is more than what we expect from the free market. O is the same as what we expect from the free market. is less than what we expect from the free market. O is impossible to predict if it's more or less than what we expect the free market to provide.Question 6 (1 point) () Listen Externalities can cause market failure because O all the benefits and costs are not fully captured by those buying and selling the good/service. the optimal quantity of the good will always be zero when there's an externality. O all the benefits and costs are fully captured by those buying and selling the good/service. people refuse to trade goods with associated externalities.Question 4 (1 point) Listen Secondhand smoke from cigarettes O involves external benefits not accounted for in the free market. is never an issue. is a good example of a negative externality. is a good example of a positive externality.Question 5 (1 point) Listen Well defined and enforced property rights have no role in society. are not necessary for trade to occur. are critical to a well functioning market. will lead to market failure.Question 12 (1 point) () Listen Free markets O never fail to produce the optimal quantity and/or price. Oalways fail to produce the optimal quantity and/or price. can fail to provide the optimal quantity and/or price. always lead to the socially optimal outcome.Question 3 (1 point) Listen Rivalry has to do with 4 O how expensive a good is. whether one person's consumption reduces the amount available to others. V how easy it is to prevent people from consuming something. how popular a good is. 0Question 8 (1 point) Listen Rights to ownership, including the ability to transfer ownership via trade are known 4 as 7 first amendment rights. O trading rights. 10 ownership rights. property rights.Question 16 (1 point) Listen The free rider problem is when someone can consume something without paying for it. is easily avoided with both public and private goods. when there are too many people riding in public transportation. only exists in rich countries. Question 17 (1 point) Listen The tragedy of the commons is an issue with common property resources. O is a theoretical concept which we never observe in real life. occurs primarily when a single person owns all of a key resource. is an issue with private goods.Question 7 (1 point) ) Listen A negative externality occurs when there are no external costs nor external benefits. there are external costs. there are external benefits. there are both external costs and external benefits