When Students Arrive Late to Class and Disrupt Their Classmates

question 59

Multiple Choice

When students arrive late to class and disrupt their classmates

• A)a negative externality can arise.
• B)a positive externality can arise.
• C)a public good (education) becomes rivalrous.
• D)a public good (education) becomes nonrivalrous.

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Definitions:

Long-Run Equilibrium

A state in which all factors of production and costs are variable, and firms make no economic profit or loss over time.

Marginal Cost

The enhanced cost due to the creation of one more unit of a product or service.

Least-Cost Combination

is an economic principle where firms seek to produce a given level of output at the minimum cost by choosing the optimal mix of inputs or factors of production.

Allocative Efficiency

A condition in which resources are distributed in such a way that no single person can be improved in their situation without negatively affecting another, thereby ensuring the optimum benefit for society.