Since Trash Generation Involves an Externality,economists Would Answer the Problem

question 184

Multiple Choice

Since trash generation involves an externality,economists would answer the problem of trash generation by

• A) raising the private cost to include external costs.
• B) having the government require mandatory sorting and recycling of trash.
• C) having the cost of the externality be paid to the government.
• D) not allowing people to throw away more trash than acceptable as a maximum.
• E) lowering the private cost to include external costs.

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Definitions:

Estimates Update

The process of revising predictions or calculations based on new information or changes to earlier assumptions.

Level

A specified stage or degree in a process, system, or ranking.

Systematic Component

The part of variability or patterns in data that can be consistently explained by identifiable factors, as opposed to random variation.

Mean Squared Error

A statistical measure of the average squared difference between estimated and actual values, used to gauge the accuracy of predictive models or estimators.