An External Cost Is Borne by

question 38

Multiple Choice

An external cost is borne by

• A)The producer of the good.
• B)The consumers of the good.
• C)A third party to the market transaction.

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Definitions:

Social Network

A structure made up of individuals or organizations that are connected by one or more specific types of interdependency, such as friendship, kinship, common interest, or economic exchange.

Characteristics

Distinctive qualities or features that define a person, object, or phenomenon, contributing to its identity or essence.

Example

A representative case or instance used to illustrate a concept, rule, or procedure, or to act as a model for others to follow.

Reference Group

A social group that individuals use as a standard for evaluating their own behavior, values, and attitudes.