Question: QUESTION 22 Consumers will willingly make less-informed decisions: O a. if information costs are greater than the perceived benefits of gathering information. O b. if

QUESTION 22

Consumers will willingly make less-informed decisions:

O a. if information costs are greater than the perceived benefits of gathering information.

O b. if information costs are less than the perceived benefits of gathering information.

O c. since ignorance always leads to bliss.

O d. whenever acquiring more information requires sacrifice.

QUESTION 23

If there are both external benefits and external costs associated with the production and consumption of a good, and the external benefits are less than the external costs,

O a. Taxing it could bring us closer to the efficient solution

O b. Subsidizing it could bring us closer to the efficient solution

O c. Neither a tax or a subsidy could bring us closer to the efficient solution

O d. None of the above is true.

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