When Condition Values Are Either "Yes" or "No",these Values Are

question 169

Multiple Choice

When condition values are either "yes" or "no",these values are called a(n) :

• A)extended entry
• B)simple entry
• C)complex entry
• D)limited entry

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Definitions:

Private Cost

The costs directly incurred by individuals or companies involved in conducting an economic activity, excluding any external effects on others.

External Cost

A cost of a transaction that affects someone who did not choose to incur that cost, often associated with negative side effects of economic activities not reflected in market prices.

Social-Cost Curve

A graphical representation showing the total cost to society of producing various levels of a particular good or service, including both private costs and external costs.

Demand Curve

A graphical representation in economics showing the relationship between the price of a specific good and the amount of it that consumers are willing and able to purchase at various prices.