In a Market Where There Are External or Negative Externalities

question 32

Multiple Choice

In a market where there are external or negative externalities associated with consumption and production, the equilibrium will not be efficient because:

• A)price will be greater than MC.
• B)firms will shut down until costs are reduced.
• C)costs of production will, on average, be too high.
• D)too many resources will be allocated to production of the good.

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Definitions:

Initial Diagnosis

The preliminary identification of a disease or condition based on the assessment of symptoms and initial tests at the beginning of care.

CPT Code

A five-digit numerical code assigned to every task and service a healthcare practitioner may provide to a patient including medical, surgical, and diagnostic services.

Indented Description

A descriptive text formatted with indentations to emphasize hierarchy or structure.

Chief Complaint

The primary symptom or condition that a patient states as the reason for seeking medical care.