Assume That Production of a Good Imposes External Costs on Others

question 217

Multiple Choice

Assume that production of a good imposes external costs on others. The equilibrium price will be ____ and the equilibrium quantity ____ for efficient resource allocation.

• A)​too high; too high.
• B)​too high; too low.
• C)​too low; too high.
• D)​too low, too low.

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Definitions:

FITT Formula

A principle used in exercise that stands for Frequency, Intensity, Time, and Type.

Exercise Program

A structured plan of physical activities tailored to meet individual fitness goals, which can include various types of exercises and intensity levels.

Fitness Level

An individual's overall physical health and abilities, often assessed through factors like endurance, strength, flexibility, and body composition.

Recommended Activities

Suggestions for physical or mental actions aimed at improving health, skill, or well-being.