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總分 80

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作業內容
配分：[5.00] 1.
得分：
5.00 When an externality is present, the market equilibrium is
詳
a. efficient, and the equilibrium maximizes the total benefit to society as a whole. 解：
b. efficient, but the equilibrium does not maximize the total benefit to society as a whole.
D
c. inefficient, but the equilibrium maximizes the total benefit to society as a whole.
d. inefficient, and the equilibrium does not maximize the total benefit to society as a whole.

配分：[5.00] 2.
得分：
5.00 Dioxin emission that results from the production of paper is a good example of a
negative externality because
詳
a. self-interested paper firms are generally unaware of environmental regulations. 解：
b. there are fines for producing too much dioxin.
C
c. self-interested paper producers will not consider the full cost of the dioxin pollution they
create.
d. toxic emissions cause firms to produce less than the socially optimal amount of paper.

配分：[5.00] 3.
得分：
5.00 When positive externalities are present in a market
詳
a. private benefits will be greater than social benefits. 解：
b. social benefits will be greater than private benefits.
B
c. only government regulation will solve the problem.
d. the market will not be able to generate an equilibrium.

配分：[5.00] 4.
得分：
5.00 Negative externalities lead markets to produce
a. greater than efficient output levels and positive externalities lead markets to produce smaller
than efficient output levels. 詳
b. smaller than efficient output levels and positive externalities lead markets to produce greater 解：
than efficient output levels.
A
c. greater than efficient output levels and positive externalities lead markets to produce
efficient output levels.
d. efficient output levels and positive externalities lead markets to produce greater than
efficient output levels.

配分：[5.00] 5.
得分：
5.00 W h e n M o n i q u e d r i v e s t o w o r k e v e r y m o r n i n g , s h e d r i v e s o n a c o n g e s t e d h i g h w a y.
What Monique does not realize is that when she enters the highway each morning
s h e i n c r e a s e s t h e t r a v e l t i m e o f a l l o t h e r d r i v e r s o n t h e h i g h w a y. I n t h i s c a s e , t h e
詳
external cost of Monique's highway trip
解：
a. increases the social cost above the private cost.
A
b. lowers the social cost below the private cost.
c. increases the social value above the private benefit.
d. decreases the social value below the private benefit.

配分：[5.00] 6.
得分：
5.00 Refer to the figure. The social cost curve is above the supply curve because
:
 詳
解：

a. it takes into account the effect no smoking policies at local restaurants.

b. it takes into account the external costs imposed on society by tobacco consumption.
c. tobacco costs more to consumers than it does for firms to make it.
d. people who stand next to smokers can inhale second-hand smoke for free.

配分：[5.00] 7.
得分：
0.00 R e f e r t o t h e f i g u r e . T h i s g r a p h r e p r e s e n t s t h e t o b a c c o i n d u s t r y. Wi t h o u t a n y
government intervention, the equilibrium price and quantity are

詳
解：

a. $2.80 and 24 units, respectively.

b. $3.00 and 30 units, respectively.
c. $2.07 and 38 units, respectively.
d. $1.50 and 50 units, respectively.

配分：[5.00] 8.
得分：
0.00 R e f e r t o t h e f i g u r e . T h i s g r a p h r e p r e s e n t s t h e t o b a c c o i n d u s t r y. T h e s o c i a l l y o p t i m a l
price and quantity are
:
 詳
解：

a. $3.00 and 30 units, respectively.

b. $2.80 and 24 units, respectively.
c. $2.07 and 38 units, respectively.
d. $1.50 and 50 units, respectively.

配分：[5.00] 9.
得分：
0.00 Refer to the figure. What is the equilibrium price in this market?

詳
解：

a. $8
b. Between $8 and $10
c. $10
d. More than $10

配分：[5.00] 10.
得分：
5.00 Refer to the figure. What is the socially optimal quantity of output in this market?
:
 詳
解：

a. 8 units
b. Between 8 and 10 units
c. 10 units
d. More than 10 units

配分：[5.00] 11.
得分：
5.00 An externality is the uncompensated impact of
詳
a. society's decisions on the well-being of society. 解：
b. a person's actions on that person's well-being.
C
c. one person's actions on the well-being of a bystander.
d. society's decisions on the person with the lowest income in society.

配分：[5.00] 12.
得分：
5.00 Suppose that coal producers create a negative externality equal to $5 per ton of
coal. What is the relationship between the equilibrium quantity of coal and the
socially optimal quantity of coal? 詳
解：
a. They are equal.
B
b. The equilibrium quantity is greater than the socially optimal quantity.
c. The equilibrium quantity is less than the socially optimal quantity.
d. There is not enough information to answer the question.

配分：[5.00] 13.
得分：
0.00 Refer to the figure. If the government wanted to tax or subsidize this good to
achieve the socially optimal level of output, it would

詳
解：

a. introduce a subsidy of $8 per unit.

b. impose a tax of $4 per unit.
:
 c. introduce a subsidy of $4 per unit.
d. impose a tax of $8 per unit.

配分：[5.00] 14.
得分：
5.00 F l u s h o t s p r o v i d e a p o s i t i v e e x t e r n a l i t y. S u p p o s e t h a t t h e m a r k e t f o r v a c c i n a t i o n s i s
p e r f e c t l y c o m p e t i t i v e . Wi t h o u t g o v e r n m e n t i n t e r v e n t i o n i n t h e v a c c i n a t i o n m a r k e t ,
which of the following statements is correct? 詳
解：
a. At the current output level, the marginal social cost exceeds the marginal private cost.
D
b. The current output level is inefficiently high.
c. A per-shot tax could turn an inefficient situation into an efficient one.
d. At the current output level, the marginal social benefit exceeds the marginal private benefit.

配分：[5.00] 15.
得分：
5.00 If the production of computer chips yields greater technology spillovers than the
production of potato chips, the government should
詳
a. encourage the production of computer chips with subsidies. 解：

b. discourage the production of potato chips with taxes. A

c. encourage the production of potato chips with subsidies.
d. discourage the production of computer chips with taxes.

配分：[5.00] 16.
得分：
5.00 Which of the following is not an advantage of corrective taxes?
詳
a. They raise revenues for the government. 解：
b. They enhance economic efficiency.
C
c. They subsidize the production of goods with positive externalities.
d. They move the allocation of resources closer to the social optimum.

配分：[5.00] 17.
得分：
5.00 Suppose that candy producers create a positive externality equal to $1 per pound of
c a n d y. F u r t h e r s u p p o s e t h a t t h e g o v e r n m e n t o ff e r s a $ 1 - p e r- p o u n d s u b s i d y t o t h e
producers. What is the relationship between the equilibrium quantity and the
詳
socially optimal quantity of candy?
解：
a. The equilibrium quantity is greater than the socially optimal quantity.
C
b. The equilibrium quantity is less than the socially optimal quantity.
c. They are equal.
d. There is not enough information to answer the question.

配分：[5.00] 18.
得分：
5.00 Suppose that Company A's railroad cars pass through Farmer B's corn fields. The
railroad causes an externality to the farmer because the railroad cars emit sparks
that cause $1,500 in damage to the farmer's crops. There is a special soy-based
grease that the railroad could purchase that would eliminate the damaging sparks.
The grease costs $1,200. Suppose that the farmer has the right to compensation for
a n y d a m a g e t h a t h i s c r o p s s u ff e r. A s s u m e t h a t t h e r e a r e n o t r a n s a c t i o n c o s t s . W h i c h 詳
o f t h e f o l l o w i n g c h a r a c t e r i z e s t h e e ff i c i e n t o u t c o m e ? 解：

a. The railroad will continue to operate but will pay the farmer $1,500 in damages. B
b. The railroad will purchase the grease for $1,200 and pay the farmer nothing because no crop
damage will occur.
c. The farmer will incur $1,500 in damages to his crops.
d. The farmer will pay the railroad $1,200 to purchase the grease so that no crop damage will
occur.

配分：[5.00] 19.
得分：
5.00 The demand curve for gasoline slopes downward and the supply curve for gasoline
slopes upward. The production of the 300th gallon of gasoline entails the following:
a private cost of $2.93;
a social cost of $3.14;
a value to consumers of $3.24
From the given information, it is apparent that 詳
解：
a. the production of gasoline involves a negative externality, so the market will produce a
B
:
 smaller quantity of gasoline than is socially desirable.
b. the production of gasoline involves a negative externality, so the market will produce a larger
quantity of gasoline than is socially desirable.
c. the production of gasoline involves a positive externality, so the market will produce a smaller
quantity of gasoline than is socially desirable.
d. the production of gasoline involves a positive externality, so the market will produce a larger
quantity of gasoline than is socially desirable.

配分：[5.00] 20.
得分：
5.00 The demand curve for gasoline slopes downward and the supply curve for gasoline
slopes upward. The production of the 300th gallon of gasoline entails the following:
a private cost of $2.93;
a social cost of $3.14;
a value to consumers of $3.24 詳
S u p p o s e t h e d o l l a r a m o u n t o f t h e e x t e r n a l i t y, p e r g a l l o n o f g a s o l i n e , i s c o n s t a n t , 解：
regardless of how much gasoline is produced. Then the externality could be C
internalized if producers of gasoline were
a. provided a subsidy of $0.10 per gallon of gasoline sold.
b. provided a subsidy of $0.21 per gallon of gasoline sold.
c. required to pay a tax of $0.21 per gallon of gasoline sold.
d. required to pay a tax of $0.10 per gallon of gasoline sold.

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