Statement I

question 85

Multiple Choice

Statement I.We have market failure when our resources are not allocated efficiently.
Statement II.An oil refinery incurs both private and social (or external) costs.

• 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:

Terminal Cancer

A stage of cancer that is advanced and deemed incurable, with an expectation that it will likely lead to the patient's death.

Dissociative Identity Disorder

A psychological condition characterized by the presence of two or more distinct personality states within a single individual.

Posttraumatic Theory

A framework that examines the long-term psychological effects and coping mechanisms following exposure to traumatic events.

Compulsions

Repetitive behaviors or mental acts that an individual feels driven to perform in response to an obsession.