When a Positive Externality Is Present in a Market,total Surplus

question 20

Multiple Choice

When a positive externality is present in a market,total surplus is:

• A) higher when buyers only consider private costs.
• B) lower when buyers only consider private costs.
• C) lower when buyers consider social costs.
• D) None of these statements is true.

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Definitions:

Delegating Responsibilities

The process of assigning tasks and duties to others, often to manage time effectively and to maximize the talents of a team.

Optimal Time

The most efficient or favorable period to achieve or perform a specific task or activity.

Daily To-do Lists

A list created to outline tasks or activities that need to be completed within a day, aiding in organization and productivity.

Self-motivation

The ability to drive oneself to take initiative and action towards achieving goals without external encouragement.