For a Good with an External Cost, the Supply Curve

question 47

Multiple Choice

For a good with an external cost, the supply curve

• A) represents the various quantities people can buy.
• B) is the same as the marginal private cost curve.
• C) is the same as the marginal social cost curve.
• D) is the same as the marginal external cost curve.

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Definitions:

Bystanders

Individuals who are present at an event or incident but do not take part.

Emergency Situation

This refers to an unforeseen and urgent event requiring immediate action, often posing danger or threat to life, property, or environment.

Role Identities

The aspects of an individual's identity formed through their roles in society, such as professional, familial, or social roles.

Prosocial Behavior

Voluntary actions intended to benefit others, including acts of kindness, helping, and sharing, often motivated by empathy or moral values.