All Externalities

question 458

Multiple Choice

All externalities

• A)cause markets to fail to allocate resources efficiently.
• B)cause equilibrium prices to be too high.
• C)benefit producers at the expense of consumers.
• D)cause equilibrium prices to be too low.

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Definitions:

Natural Rights

Basic rights that are believed to be granted to all people by nature or God and are not dependent on laws or governments.

Republican Citizen

Refers to an individual who actively participates in public life and governance in accordance with principles of republicanism, emphasizing liberty and civic virtue.

Legal Authority

The right and power to enforce laws, exact obedience, or make decisions and judgments.

Deeds

Legal documents representing the ownership of property or legal rights.