A Negative Externality

question 183

Multiple Choice

A negative externality:

• A)is any cost above the economic cost.
• B)equals the social cost plus the firm's private cost.
• C)is an uncompensated cost imposed by an individual or firm on others.
• D)equals the opportunity cost minus the social costs.

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Definitions:

Robbers' Cave

An experiment focusing on group conflict and cooperation, illustrating how group identity can impact intergroup relations.

Prejudice

Preconceived opinions or judgments towards people or groups without sufficient knowledge, often based on stereotypes.

Hostility

A complex mix of emotions and behaviors that expresses opposition, anger, or aggression toward others.

Harold Kelley

a social psychologist known for his contributions to attribution theory, which explains how individuals infer the causes of other people's behavior.