Which of the Following Is NOT an Example of an Externality

question 144

Multiple Choice

Which of the following is NOT an example of an externality?

• A)The development of a vaccine for preventing flu.
• B)Acid rain that destroys forest land throughout the Midwest.
• C)Gas prices that doubled between 1998 and 1999.
• D)A factory that dumps dangerous chemicals into the Hudson River.

Analyze the impact of multitasking on cognitive performance and brain function.

Understand the relationship between dream experiences and physiological responses during sleep.

Identify and differentiate between the various sleep disorders and their characteristics.

Comprehend the principles of sequential and parallel processing and their implications for cognitive functioning.

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Definitions:

Long Run

A period in which all factors of production and costs can be fully adjusted, including entry and exit of firms.

Economic Profits

Profits that exceed the opportunity costs of all inputs, indicating a return beyond the norm expected in competitive markets.

Total Cost

The sum of all costs incurred in the production of goods or services, including both fixed and variable costs.

Profitable Level

The point at which a business or economic activity generates revenue that exceeds its costs, resulting in a financial gain.