In Markets with Externalities or Public Goods, Private Costs Exceed

question 21

True/False

In markets with externalities or public goods, private costs exceed social costs.

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Definitions:

Ethnicity

A category of people identified with each other based on common ancestral, social, cultural, or national experiences.

Social Construction

A theory in sociology and philosophy which posits that many aspects of society, including knowledge, are not inherent but are instead created by societal groups and interactions.

Genetic Influences

The effects that the genetic makeup of an individual has on their traits, behaviors, and susceptibilities to conditions.