According to ________, in a Market with an Externality, Private

question 56

Multiple Choice

According to ________, in a market with an externality, private parties would voluntarily negotiate an efficient outcome without government intervention.

• A)A. C. Pigou
• B)Adam Smith
• C)Ronald Coase
• D)John Maynard Keynes

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Definitions:

Deindividuation

A psychological state characterized by diminished self-consciousness, reduced concern over social evaluation, and weakened restraints against prohibited forms of behavior, often occurring in group settings.

Deindividuated

A psychological state where an individual loses self-awareness and feels less responsible for their actions, often occurring in group settings.

Uniform

A distinctive set of clothes meant to identify members of a specific group, organization, or profession.

Mindlessness

A mental state characterized by a lack of conscious awareness, often resulting in automatic or habitual action without attention to present context.