On the Fourth of July, there is no fireworks display in the small town of Yankeeville, even though it would be efficient for such a display to be produced. Which of the following statements is correct?
A、The lack of a fireworks display in Yankeeville arises because of an externality.
B、The lack of a fireworks display in Yankeeville is a case of market failure.
C、In deciding not to produce a fireworks display in Yankeeville, private individuals and private firms made decisions that were privately rational but socially inefficient.
D、All of the above are correct.
A、The lack of a fireworks display in Yankeeville arises because of an externality.
B、The lack of a fireworks display in Yankeeville is a case of market failure.
C、In deciding not to produce a fireworks display in Yankeeville, private individuals and private firms made decisions that were privately rational but socially inefficient.
D、All of the above are correct.
微观经济学（全英）
章节列表
1. General Overview of Economics282. Principles of Economics353. Circular-Flow Diagram and PPF204. Interdependence and Trade205. Demand and Supply756. Elasticity717. Price Control and Taxation408. CS, PS and the Efficiency of Markets109. Costs of Taxation2510. International Trade3011. Externalities3112. Public Goods and Common Resources2013. The Costs of Production20