Which of the Following Would Be an External Cost to the Consumption

question 161

Multiple Choice

Which of the following would be an external cost to the consumption of cigarettes?

• A) Price of a pack of cigarettes.
• B) Loss of income resulting from extra missed days of work.
• C) Higher life insurance premiums due the practice of smoking.
• D) The loss in utility received because the smoker must stand outside her office building in the winter to smoke.
• E) Increased risk of cancer to the nonsmoking passengers in the smoker's carpool.

Understand the roles and functions of key labour organizations in Canada relative to their counterparts in other countries.

Understand the principles of bargaining and negotiation tactics in the labour context.

Identify strategies employed by unions and management during negotiations and labour disputes.

Recognize the legal and ethical considerations in union-management relations, particularly regarding workers' rights to organize and negotiate collectively.

---

Definitions:

Long-Run Stream

Refers to a period in which all factors of production and costs can be fully adjusted, allowing for a comprehensive analysis of operational efficiency and market dynamics.

Optimal Extraction Level

The most efficient rate at which a resource can be extracted to balance economic benefits and conservation.

Market Price

The current price at which a good or service can be bought or sold in a marketplace, subject to fluctuations based on supply and demand dynamics.

User Cost

The cost associated with the use of a natural resource or capital, factoring in depreciation or depletion of the resource.