The Inclusion of External Benefits in the Decision Making Process

question 59

Multiple Choice

The inclusion of external benefits 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:

Technicality

A minor detail affecting a legal decision or process that may have implications for the outcome of a case or the execution of a contract.

Ethical Practice

The adherence to moral principles and standards in professional and personal actions, ensuring fairness, transparency, and integrity.

Public Sector

The part of the economy that is controlled by the government, encompassing public services and enterprises.

Private Sector

The part of the economy that is owned and operated by individuals and companies for profit, not controlled by the state.