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If the Social Costs of an Economic Activity Are $200

question 74

Multiple Choice

If the social costs of an economic activity are $200 and the private costs are $200,then the external costs of the activity are ________,and market failure ________.


Definitions:

Wound Care Supplies

Medical products and materials used in the treatment and management of open cuts, abrasions, or surgical incisions.

Biohazard Sharps Container

A puncture-proof container designed for the safe disposal of needles, scalpels, and other sharp instruments that may be contaminated with hazardous materials.

Zip Code

A postal code used by postal services to ensure mail is delivered to the correct geographic location.

Aggregate

A total or sum made from combining several separate elements.

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