The Inclusion of External Costs in the Decision Making Process

question 42

Multiple Choice

The inclusion of external costs in the decision making process determining equilibrium price and quantity leads to

• A) lower priced items and increased quantity.
• B) lower priced items and a decline in quantity.
• C) higher priced items and increased quantity.
• D) higher priced items and a decline in quantity.

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Definitions:

Syntax

The set of rules, principles, and processes that govern the structure of sentences in a given language, specifically the arrangement of words and phrases.

Phonemes

Phonemes are the smallest units of sound in a language that can distinguish one word from another in the language's phonological system.

Benjamin Whorf

An American linguist known for his hypothesis that the structure of a language affects its speakers' cognition and worldview.

Allen Gardner

An American psychologist known for his work in teaching sign language to chimpanzees, notably a chimp named Washoe.