If a Good That Involves External Costs Is Priced to Take

question 49

Multiple Choice

If a good that involves external costs is priced to take these costs into account,then its price will likely:

• A)fall,and output will likely rise.
• B)rise,and output will likely fall.
• C)not change,but output will likely fall.
• D)rise,but output will likely stay the same.

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Definitions:

Daily Tasks

Routine activities or chores that a person performs on a regular basis, usually as part of their normal day-to-day living.

Activity Timing

The regulation of behavior patterns according to time, such as sleep/wake cycles or seasonal activities.

Delay of Gratification

The ability to resist the temptation for an immediate reward and wait for a later, often greater, reward.

Desired Reward

An attractive and sought-after outcome or item, typically as a result of one's actions or achievements.