One Consequence of a Negative Externality Is That

question 144

Multiple Choice

One consequence of a negative externality is that

• A)social costs are greater than private costs.
• B)private costs are greater than social costs.
• C)the marginal private cost curve slopes upward.
• D)the market output is less than the socially optimal output.

Identify appropriate intervals for replacing medical devices used in self-care like catheters.

Demonstrate and teach correct methods for temperature monitoring and the use of thermometers.

Understand and teach the practice of medical asepsis in home care settings, especially related to enteral feedings and medication administration.

Highlight the differences between acute care and home care environments in terms of procedural cleanliness and device care.

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Definitions:

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in a stable market condition.

Demand Decreases

A reduction in the quantity of a good that consumers are willing and able to buy at each possible price.

Equilibrium Quantity

The amount of goods or services supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Demand Increases

A situation in which the quantity of a product or service that consumers are willing and able to buy at a specific price rises.