The Existence of External Costs Means That

question 10

Multiple Choice

The existence of external costs means that

• A) the producer's marginal cost is greater than the marginal social cost of production.
• B) the producer's marginal cost is less than the marginal social cost of production.
• C) the consumer's marginal benefit is greater than the marginal social benefit of the good.
• D) the consumer's marginal benefit is less than the marginal social benefit of the good

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Definitions:

Aphagic

The inability to swallow, which can be due to various neurological or physical disorders.

Hyperphagic

Describes an excessive eating behavior, often beyond the physiological need for food.

Achievement Motivation

A psychological construct that drives individuals to pursue and attain goals, often influencing their success in various tasks.

Learning Goal

An educational objective or aim that a person sets for themselves, focusing on acquiring knowledge or mastering a skill.