Diminishing Marginal Utility
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B
C
D
Positive Statement are statements that can be supported or refuted by
External Cost
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B
C
D
Government Failure
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B
C
D
XED
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B
C
D
Utility means the s____ and benefit from consuming goods
Inertia means people think the effort of switching is too great or too ____ to switch.
Government failure occurs when government intervention leads to a net w____ l____ compared to a free market solution.
Market Failure means resources are i_______ allocated due to imperfections in the working of the market mechanism.
Free rider（搭便车）:a person or organization that receives benefits that others have paid forwithout making any c_____
Non-rivalry（非竞争性）:consumption by one economic agent does not r_____ the amount available for consumption by others.
Non-excludability（非排他性）：once provided, it is impossible to p_____ any economic agent from consuming the good.
Moral hazard（道德风险）:a situation where an individual or organization is p______ from theconsequences of their actions.
Producer surplus（生产者剩余）:the difference between the market price that firms receive andthe price at which they are prepared to s____.
Consumer surplus（消费者剩余）:the difference between price and buyers w___ _____ ______ is theconsumer surplus