The Social Cost of an Externality Can Be Described As

question 2

Multiple Choice

The social cost of an externality can be described as:

• A)always equal to the tax the government imposes on production of the good
• B)the cost imposed on society that is neglected during the production of the good
• C)the situation that arises when two parties cannot reach an agreement over the production of a good
• D)the value people place on the production of a good

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Definitions:

Ethnomethodologists

Social scientists who study the methods people use in everyday life to make sense of their social world, focusing on the implicit norms and routines.

Radical

Pertaining to fundamental or extreme changes or actions, often in politics or social reform.

Reflexive

An ability to recognize one's own actions and thoughts self-critically as part of the context being analyzed or discussed.

Conversational Procedure

The methods and rules that guide how conversations are conducted, including turn-taking, interruptions, repairs, and other aspects of spoken interaction.