Which of the following is an example of a negative externality? a. Your neighbors enjoying the loud music you play. b. Afirm dumping waste into a stream C. Bees pollinating flowers of an adjacent property d. Whales swimming in international waters e. None of the above 3. A negative externality will result in an equilibrium quantity of an activity that is _ the socially optimal quantity a. above b. below Cabove or below d. equal to e. it cannot be determined 4. People can purchase and sell the right to perform activities to perform activities that cause externalities to arrive at efficient solutions. This describes.... 3. the Tragedy of the Commons b. a positional externality c an external benefit d the Coase Theorem 5. Explain key characteristics of the efficient level of pollution reduction 6. Sin taxes are taxes on goods that generate negative externalities in consumption. In the case of alcohol, City A has decided to tax the purchase of all products containing alcohol (beer, wine, hard liquor). Graph the effect of this regulation on the market for wine (supply, demand, Pm, Om, Pe, Qe). Price of wine Bottles of wine 7. That people will use resources that has no price until marginal benefit equals zero is a description of a. The Tragedy of the Commons b. A positive externality C A negative externality d. The Coase Theorem e Property rights 8. If it is costly to exclude those who do not pay for a good from consuming it, the good is considered a. Nonrival b. Nonexcludable C. Regressive d. Public Collective 9. A good is considered nonrival if Consumption by one person does not diminish its availability for others b. it is difficult to exclude those who do not pay for it It is provided by the government d. It is provided by a firm with no competitors D it is paid for by taxes 10. If nonpayers for a good can be easily excluded and consumption by one person diminishes its availability for others, the good is an) good, a Private b Pubile c. Collective d. Commons . None of the above 11. F ood is both nontial and nonexcludable, it is an a Private b. Public Collective d. Commons ... None of the above. Pago