A Class Interval, or Class Width, Can Be Determined by Subtracting

question 41

True/False

A class interval, or class width, can be determined by subtracting the lower limit of a class from the lower limit of the next higher class.

---

Definitions:

Negative Externality

A cost that is suffered by a third party as a result of an economic transaction.

Pigovian Externality

A situation where a market activity imposes a positive or negative cost or benefit on a third-party that is not reflected in the market price.

Free-Rider Problem

A situation in a shared-resource system where individuals consume more than their fair share or pay less than their fair share of the cost.

Free-Rider Problem

A situation where individuals consume a public good without contributing to its cost, undermining the provision of that good.