In Perfect Competition,environmental Externalities Need Not Distort the Allocation of Resources

question 21

Multiple Choice

In perfect competition,environmental externalities need not distort the allocation of resources providing

• A)transactions costs are zero.
• B)average costs are constant for all output levels.
• C)firms install pollution control equipment.
• D)the government sets realistic pollution standards.

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Definitions:

Manifest Conflict

The visible and explicit display of disagreement, competition, or antagonism between individuals or groups.

Expressed Openly

The act of sharing thoughts, feelings, or opinions in a straightforward and uninhibited manner.

Functional Conflict

Functional conflict is a healthy, constructive disagreement between two or more individuals or groups that leads to improved decision-making or outcomes.

Culture on Behavior

Culture on Behavior examines how the shared values, norms, and practices within a culture influence the behaviors of its members.