If Negative Externalities Are Present in a Market,________

question 51

Multiple Choice

If negative externalities are present in a market,________.

• A) the market price is higher than the socially optimal price
• B) the quantity supplied in the market is larger than the socially optimal level
• C) the marginal social cost of production is lower than the marginal private cost
• D) the average cost of production exceeds the marginal cost of production at all output levels

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Definitions:

Middle Ear

The section of the ear between the eardrum and the inner ear, containing three small bones that transmit sound vibrations.

Eyelid Muscle

Refers to any of the muscles responsible for eyelid movement, including the levator palpebrae superioris, which raises the eyelid, and the orbicularis oculi, which closes the eyelid.

Blinking

A rapid opening and closing of the eyelids which helps to spread tears across and remove irritants from the surface of the cornea and conjunctiva.

Squinting

The partial closing of one's eyes to improve focus or reduce light exposure, or a misalignment of the eyes where they do not aim simultaneously at the same point.