An External Cost on Supply Can Be Measured Graphically as the

question 74

Multiple Choice

An external cost on supply can be measured graphically as the

• A)Horizontal distance between the market demand curve and the social demand curve.
• B)Vertical distance between the market demand curve and the social demand curve.
• C)Horizontal distance between the market supply curve and the social supply curve.
• D)Vertical distance between the market supply curve and the social supply curve.

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Definitions:

Mere Exposure Effect

The phenomenon that repeated exposure to novel stimuli increases liking of them.

Other-Race Effect

The tendency to recall faces of one’s own race more accurately than faces of other races. Also called the cross-race effect and the own-race bias.

Explicit and Implicit Attitudes

Explicit attitudes are conscious beliefs that can guide decisions and behavior, while implicit attitudes are unconscious beliefs that can influence actions and perceptions.

Stereotypes

Widely held but fixed and oversimplified images or ideas about a particular type of person or thing.