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Textbooks / Business / Principles of Economics 6 / Chapter 11 / Problem Problems and Applications 11.2

Both public goods and common resources involve externalities. a. Are the externalities

Principles of Economics | 6th Edition | ISBN: 9780538453059 | Authors: N. Gregory Mankiw ISBN: 9780538453059 472

Solution for problem Problems and Applications 11.2 Chapter 11

Principles of Economics | 6th Edition

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Principles of Economics | 6th Edition | ISBN: 9780538453059 | Authors: N. Gregory Mankiw

Principles of Economics | 6th Edition

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Problem Problems and Applications 11.2

Both public goods and common resources involve externalities. a. Are the externalities associated with public goods generally positive or negative? Use examples in your answer. Is the free-market quantity of public goods generally greater or less than the efficient quantity? b. Are the externalities associated with commonresources generally positive or negative? Useexamples in your answer. Is the free-marketuse of common resources generally greater orless than the efficient use?

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 Areas of Advertising regulation  Deception and unfairness  Competitive issues  Advertising to children  Deception and Unfairness  I cure woman ad  Lady clear skin ad-arsenic wafers  Subway foot long is only 11 inches, sub shrinks in oven  Head On, doesn’t tell you what is in it. Had a numbing agent that only relieved the pain for a few minutes.  SlimQuick, a lot of caffeine in it  Lipo-6, pills  L’Enfant Plaza, Hotel Rooms – Washington, D.C.  Hudson Hotel – NYC, small room  Blue Moon Hotel – Miami, extremely small pool  Mandarin Oriental – Miami, extremely small pool  Low Price  Low price is higher than regular price  Competitive Issues  Bounty Paper Towels – documented commercial of how it is better

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Textbook: Principles of Economics
Edition: 6
Author: N. Gregory Mankiw
ISBN: 9780538453059

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Both public goods and common resources involve externalities. a. Are the externalities