When Production of a Good Results in an External Cost,the

question 170

Multiple Choice

When production of a good results in an external cost,the unregulated competitive market equilibrium quantity is

• A) the efficient level of output.
• B) greater than the efficient level of output.
• C) not zero but is less than the efficient level of output.
• D) unattainable.
• E) zero.

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Psychobabble

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A collection of beliefs or practices mistakenly regarded as being based on scientific method.

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A cognitive process where individuals base their beliefs or decisions on their emotions rather than on objective reality.