An Externality Occurs When

question 7

Multiple Choice

An externality occurs when:

• A) production of a good results in impacts external to the market
• B) consumption of a good results in impacts external to the market
• C) either A or B
• D) neither A nor B

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Definitions:

Sleep Through

The ability to sleep uninterrupted for a long period, typically used in the context of infants sleeping overnight.

States Of Arousal

Different levels of physiological and psychological activity ranging from sleep to intense activity or excitement.

Hormonal Changes

Biochemical alterations in the body's hormone levels, affecting mood, growth, metabolism, and reproductive functions.

Neurological "Firing"

refers to the process by which neurons transmit electrical impulses, facilitating communication within the brain and between the brain and the rest of the body.