**Question 7:**Copyright laws exist in order to:a. eliminate negative externalities.b. eliminate public goods.c. limit free-riding.d. solve the tragedy of the commons.e. protect consumers.

Public goods face market failure because they are nonexclusive and non rival in nature.

Answered: #7. Copyright laws exist in order to a.…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. It is a social state where the seller and the buyer are both have freedom to sell and to buy commodity with agreed price in a definite place and time 2. One of the social science which consists of that body of knowledge dealing with people and the utilization of their assets or resources.
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I need help with qusetion A, B and C
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a. Which of the following situations exhibits a positive externality? __ Alan purchases a new watch as a gift for his father. __ Sean spends the afternoon cleaning his garage. __ Richard renovates a dilapidated historic home in the center of town. b. when there is a positive externality associated with the market __ too little is produced. __ too much is produced. __ the socially optimal amount is produced. c. Governments may stimulate the economy to move toward the socially optimal output by __ taxing the product __ subsidizing the product. __ implementing a price ceiling.
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If production of a good is known to create external benefits a. Those benefits are larger than those received by the consumers of that good b. Those benefits are smaller than those received by the consumers of that good c. Those benefits are the same as those received by the consumers of that good

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#7. Copyright laws exist in order to a. eliminate negative externalities. b. eliminate public goods. c. limit free-riding. d. solve the tragedy of the commons. e. protect consumers.