In a Functional Programming Language, Functions That Are Defined as Part

question 64

Multiple Choice

In a functional programming language, functions that are defined as part of the language are called ____ functions.

• A) primitive
• B) basic
• C) regular
• D) internal

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Definitions:

Positive Externality

A beneficial effect experienced by a third party or the society as a whole, resulting from an economic transaction.

Market

The environment in which buyers and sellers interact to exchange goods, services, and information, setting prices through supply and demand.

Socially Optimal Quantity

Socially Optimal Quantity is the level of production or consumption of a good or service that results in the maximum possible economic efficiency and welfare, taking into account all social costs and benefits.

External Benefit

A positive effect or advantage that results from a product or service's use, extending beyond the direct buyer or consumer to others not involved in the transaction.