Examlex
Students often hold on stubbornly to their misconceptions about the world.Three of the following are possible explanations as to why this might be so.Which statement is not a likely explanation for the resilience of misconceptions?
External Cost
Uncompensated costs that individuals or firms impose on others outside of market transactions, often associated with pollution.
Pollution Tax
A financial charge imposed on the emission of pollutants, intended to motivate reductions in harmful environmental discharges.
Unit of Production
A single complete item or a specified amount of a commodity produced.
Positive Externality
An economic situation where a third party benefits from a transaction or activity they are not directly involved in.
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