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:

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The presence of differences or a range of different things within a particular area, group, or system.

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Lacking a fixed, organized system or arrangement, often leading to flexibility in approach or the potential for unpredictability.

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