Suppose the Production of a Good Results in Negative Externalities

question 150

Multiple Choice

Suppose the production of a good results in negative externalities. If all costs are taken into account, then

• A)output will not occur at the socially optimal level.
• B)the price of the product will be higher than if all costs are not taken into account.
• C)more output will be produced than if all costs are not taken into account.
• D)the price of the product will be the same as it would be if all costs are not taken into account.

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Definitions:

Abbey Church

A church that is or was part of an abbey complex, typically serving as the primary place of worship for monks or nuns.

Three-Aisled Basilica

A type of church building with three parallel aisles separated by columns or piers, often used in Romanesque and Gothic architecture.

Early Christian Prototypes

The initial forms and models of Christian art and architecture developed in the early centuries of Christianity.

Monastery of Saint Gall

A historic Carolingian monastery in St. Gallen, Switzerland, renowned for its medieval library and stunning architecture.