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Ron and several fellow workers of Vicy,Inc.,a small manufacturing company,wished to organize a union.When Vicy learned of this activity,it issued a bulletin to all workers stating that a union will only hurt the company and that "we are a family that can solve any problems ourselves -- we do not need union activists from outside our company trying to tell us what to do!" Which statement is correct concerning the bulletin issued by Vicy?
Socially Optimal
Refers to a situation where goods or services are produced and consumed at a level that maximizes overall social welfare.
Pollution
The contamination of the environment with harmful or poisonous substances, adversely affecting the health of living organisms and ecosystems.
External Costs
Costs of an economic activity that are not borne by the participants but rather by other people or society at large.
Tax
A compulsory financial charge imposed by a government on individuals or entities to fund various public expenditures.
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