When Some Fraction of the Benefit of an Activity Is

question 89

Multiple Choice

When some fraction of the benefit of an activity is received by people not participating in the activity,it is called a(n)

• A) winner's curse.
• B) positive externality.
• C) external cost.
• D) negative externality.
• E) efficient allocation.

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Definitions:

Lens-cleaning Solution

A specially formulated liquid used for cleaning and disinfecting optical lenses, including those in eyeglasses and cameras.

Brownian Movement

The random motion of particles suspended in a fluid, resulting from their collision with the quick atoms or molecules in the gas or liquid.

Molecules

The smallest particle of a chemical element or compound that can exist independently while retaining all the properties of that element or compound.

Oil-immersion Lens

A microscope lens used with a drop of oil to increase the resolution and magnification by decreasing light refraction.