-Refer to Figure 9.10 to answer this question.Which of the following statements is true if external costs are recognized but external benefits are not?
Definitions:
Marginal Product
The increase in output that results from employing one additional unit of a factor of production, while holding other factors constant.
Additional Worker
An employee hired to increase the workforce, contributing to higher production or service capacity.
Firm
An organization that uses resources to produce goods or services for profit in an economic system.
Goods
Items or products that are produced to satisfy wants or needs of consumers. Goods can be tangible, like food and cars, or intangible, like services.
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