Which of the Following Best Describes an Externality

question 258

Multiple Choice

Which of the following best describes an externality?

• A) something that is external to the economy
• B) a sales tax on a good in addition to the market price
• C) an effect of a transaction felt by someone other than the buyer or seller
• D) anything produced in other countries
• E) a change from what is normal

Identify the molecular basis of mutations and their effects on protein function.

Understand prenatal diagnostic methods and their significance.

Explain X-linked inheritance and predict outcomes of crosses involving X-linked traits.

Comprehend chromosomal abnormalities and their consequences.

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Definitions:

Manufacturing Margin

The excess of sales over variable cost of goods sold.

Contribution Margin

The amount by which sales revenue exceeds variable costs, contributing towards covering fixed costs and generating profit.

Variable Factory Overhead

Costs that vary with the volume of production and include expenses such as indirect materials and utilities.

Absorption Costing

An accounting method that includes all direct costs and overhead expenses related to the production of a product in its cost base.