An Externality Exists When the Cost or Benefit Resulting from Some

question 169

True/False

An externality exists when the cost or benefit resulting from some activity or transaction is experienced by parties external to the activity or transaction.

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Definitions:

Cubes

A cube is a three-dimensional solid object bounded by six square faces, or in mathematics, the result of multiplying a number by itself twice.

Ordered Pairs

Pairs of numbers used to represent points on a graph, with the first number indicating horizontal position and the second number vertical position.

Function

In mathematics, a relation between a set of inputs and a set of permissible outputs with the property that each input is related to exactly one output.

Simplify

In mathematics, to reduce an expression or equation to its simplest form or most understandable version.