Answer: B. the social benefit from consuming the good to be greater than the private benefit.
Explanation:
A POSITIVE EXTERNALITY is one where the benefits are enjoyed by a third party as a result of an economic transaction.
Even though the third parties can be considered to be freeloaders, this externality is encouraged because it has such a larger social benefit which surpasses even private benefit.
For example, a student graduating from a university with skills they learnt there and contributing to society.
Solution:
1.
The average snowfall in cincinnati over this period was 28 inches.
In the city cincinnati, snowfall (inches) in january and february is 18 and 38 respectively :
Average snowfall = {18+38}/{2} = 28 inches
2.
If the march data on snowfall is above the average (i.e 28 inches), The monthly average will rise.
If the march data on snowfall is above the average snowfall in January and February (i.e 28 inches), the monthly average will rise because, any snowfall data in march which is greater than 28 inches will lead to rise in monthly average.
For e.g , suppose, If we consider snowfall (inches) in march is 30 inches, than monthly average is :
Monthly average snowfall= {18+38+31} / {3}= 29 inches
which is greater than 28 inches.
Therefore, If the march data on snowfall is above the average (i.e 28 inches), The monthly average will rise.
There are a lot of laws. The Law of Supply states that as prices rise, the quantity supplied increases and as prices fall, the quantity supplied decreases.
<h3>What is the law of supply?</h3>
The law of supply is known to be a popular microeconomic law that states that, when all other factors are equal, the price of a good or service goes up, the quantity of goods or services that suppliers gives will also goes up, and vice versa.
The Law of Supply in simple terms is as prices rise, the quantity supplied goes up and as prices fall, the quantity supplied lowers. The law of supply makes sure that producers make a lot of money as much as possible.
Learn more about The Law of Supply from
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I wouldn't think so. It is a gift card to a store, it isn't straight cash. So No.