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Final Micro > Externalities > Flashcards

Externalities Flashcards

1
Q

Positive consumption externalities order
(bottom to top)

A

PB
SB
double C

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2
Q

Negative production externality order
(bottom to top)

A

double B
PC
SC

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3
Q

Axis?

A

y = costs/benefit (price)
x = quantity

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4
Q

How to fix negative externality?

A

tax
minimum price
regulation - bans, standards, restrictions

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5
Q

How to fix positive externality?

A

subsidy
max prices

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Final Micro (21 decks)

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