Physical Retailers Are Limited by Shelf Space and Geography (Meaning

question 44

True/False

Physical retailers are limited by shelf space and geography (meaning the density of customers around a particular location).

Understand the concept of externalities and how they affect social costs and benefits.

Calculate the social cost of producing goods in the presence of external costs.

Evaluate the effects of externalities on the efficiency of the market outcomes.

Identify and justify the use of taxes or subsidies to achieve social optimum.

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Definitions:

Sacajawea

A Lemhi Shoshone woman who helped the Lewis and Clark Expedition achieve their chartered mission objectives by exploring the Louisiana Territory.

Shoshone Indian

A member of a Native American tribe originally living in the western United States.

Pacific Ocean

The biggest and most profound ocean on Earth, situated between the Americas in the east and Asia and Australia in the west.

Motorists

Individuals who operate cars or other motor vehicles.