When External Costs Are Present

question 255

Multiple Choice

When external costs are present

• A) competitive, unregulated markets are efficient.
• B) transaction costs will be high.
• C) a tax might be able to create efficiency.
• D) property rights have already been established.

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Definitions:

Urban Growth

The increase in the population and expansion of infrastructure within cities, often leading to economic development as well as environmental and social challenges.

Urban Ecological Succession

A process in urban environments where ecological communities undergo changes over time, often due to human interventions or natural disturbances.

Rural Villagers

Individuals residing in small, often remote communities located in countryside areas, typically reliant on agriculture or local trades.

Gay Man

A male individual who is emotionally, romantically, or sexually attracted to other men.