Suppose You Live in the Suburbs and Dump Your Garbage

question 75

Multiple Choice

Suppose you live in the suburbs and dump your garbage on your front lawn on a daily basis.

• A)Your actions hurt no one but yourself.
• B)Your actions constitute an external cost to your neighbors.
• C)Your actions constitute an external benefit to your neighbors.
• D)Your actions would not be considered a market failure.

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Definitions:

Less Of

A comparative term indicating a reduced quantity or degree of something.

Marginal Utility

The additional satisfaction or utility that a consumer receives from consuming an additional unit of a good or service.

Money Income

The total amount of monetary earnings or receipts accruing to an individual or household from various sources before any deductions like taxes.

Total Utility

The complete fulfillment experienced when a certain amount of products or services is consumed.