If a Negative Externality Results from the Refining of Petroleum

question 93

Multiple Choice

If a negative externality results from the refining of petroleum, in the eyes of the oil refinery the cost of production:

• A)does not include external costs.
• B)includes external costs.
• C)does not include fixed costs.
• D)includes external benefits.
• E)does not include variable costs.

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Definitions:

Employee Needs

Refer to the requirements or conditions necessary for employees' well-being, satisfaction, and productivity in the workplace, such as fair wages, safe working conditions, and recognition.

Leadership Substitutes Model

A theory suggesting that certain characteristics of the organization, task, or subordinates can diminish or replace the need for leadership.

Transformational Leaders

Leaders who inspire and motivate followers to achieve extraordinary outcomes by transforming their values and priorities.

Path-Goal Leadership Theory

The Path-Goal Leadership Theory posits that leaders can enhance employee performance and satisfaction by clarifying paths to goals, removing obstacles, and providing or increasing rewards for goal achievement.