ECONOMICS 415 CLICKER QUESTIONS Chapter 2 – Question Set #1.

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Presentation transcript:

ECONOMICS 415 CLICKER QUESTIONS Chapter 2 – Question Set #1

All of the following apply to the definition of a demand curve except: 0 of Market demand is the sum of individual demand curves 2. Individual demand curves reflect individual or private benefits 3. Market demand reflects social costs 4. Market demand reflects social benefits

Which of the following does not correctly indicate economic efficiency? 0 of D = S 2. MB = MC 3. Q D = Q S 4. net benefits are maximized

Which of the following is not an example of market failure? 0 of Taxation 2. Imperfect information 3. Externalities 4. Monopoly 5. Inappropriate government intervention

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