Suppose that a steel factory emits a certain amount of air pollution, which constitutes a negative externality. if the market does not internalize the externality, a. consumers will be required to pay a higher price for steel than they would have if the externality were internalized. b. producers will produce less steel than they otherwise would if the externality were internalized. c. the supply curve would adequately reflect the marginal social cost of production. d. the market equilibrium quantity will not be the socially optimal quantity.

Dan wants to start a supermarket in his hometown, and wants to get into the business only after finding out about the market and how successful his business might be. the best way for dan to gain knowledge is to:

Juanita and sam attend a beach party and notice that the local beach appears to have a great deal more trash washed up on shore than it did when they were young. the water doesn't appear nearly as clear, and there seems to be less evidence of small water creatures living in the shallows. an afternoon at the local library convinces them that one major cause is the new factory nearby. after some discussion, they decide their next step should be identifying the cause of the changes identifying the problem picketing the guilty factory lobbying their elected representatives to complain about the problem talking to a local environmental group about solutions

Which of the following best explains why online retail companies have an advantage over regular stores? a. their employees make less money because they mostly perform unskilled tasks. b. they are able to keep distribution costs low by negotiating deals with shipping companies. c. their transactions require expensive state-of-the-art technological devices. d. they have a larger number of potential customers because people anywhere can buy from them.