When Both Internal and External Costs for Using a Scarce

question 221

Multiple Choice

When both internal and external costs for using a scarce resource are included, then there is

• A) an increase in the production of the good.
• B) a negative externality.
• C) an increase in the price of the good.
• D) a positive externality.

---

Definitions:

19th Century

The period from January 1, 1801, to December 31, 1900, characterized by significant industrial, social, and political changes.

Biological Bases

The underlying physiological and genetic factors contributing to an individual's traits, behavior, or health conditions.

Neuroethics

An interdisciplinary field that explores the ethical, legal, and social implications of neuroscience.

Neuroscience

A multidisciplinary branch of science that combines physiology, anatomy, molecular biology, developmental biology, cytology, mathematical modeling, and psychology to understand the properties of neurons and neural circuits.