A Marginal External Cost of a Product Is Equal to

question 65

Multiple Choice

A marginal external cost of a product is equal to

• A) the cost someone other than the producer incurs when another unit is produced.
• B) what the producer has to pay to hire resources to produce another unit.
• C) what the consumer must pay when he or she buys the good or service.
• D) the cost the producer incurs to produce another unit.
• E) None of these answers describes a marginal external cost.

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Definitions:

Flashbulb Memory

A vivid and detailed memory of a surprising and emotionally significant event, which can be recalled with high accuracy.

Autobiographical Memory

The aspect of memory that stores information regarding oneself, including personal experiences, emotions, and facts.

Reconstruct

The process of rebuilding or forming an object, concept, or cognitive representation after its analysis or deconstruction.