A Marginal External Cost Is

question 66

Multiple Choice

A marginal external cost is:

• A) the cost associated with producing an additional unit of a product.
• B) the cost of producing an additional unit of a product that accrues to a third party who is not involved in producing or consuming the product.
• C) the cost imposed on society by the production of an additional unit of a product.
• D) the cost imposed on consumers by the production of an additional unit of a product.

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Definitions:

Self-Actualization

A term referring to the realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Goodwill

A positive and cooperative attitude that encourages mutually beneficial relationships or the intangible asset representing the value of a company's brand, reputation, and customer relations.

Altruistic Concern

The selfless concern for the welfare of others, often motivating charitable acts or behavior.

Subjective Happiness

An individual's self-reported level of happiness or satisfaction with life, reflecting personal feelings and emotional state.