Statement I.Pollution Is an Example of Market Failure

question 193

Multiple Choice

Statement I.Pollution is an example of market failure.
Statement II.Externalities can be costs or benefits.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Visual Process

The series of steps by which visual information is taken in by the eyes and interpreted by the brain to form visual perceptions.

Light Rays

Streams of photons that exhibit both wave-like and particle-like properties, responsible for making the phenomena of sight possible.

Pupil

The black circular opening in the center of the iris of the eye, which regulates the amount of light that enters.

Accommodation

The process of adjusting thoughts or schemas to incorporate new information or experiences.