The Inclusion of External Costs in the Decision Making Process

question 42

Multiple Choice

The inclusion of external costs in the decision making process determining equilibrium price and quantity leads to

• A) lower priced items and increased quantity.
• B) lower priced items and a decline in quantity.
• C) higher priced items and increased quantity.
• D) higher priced items and a decline in quantity.

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Definitions:

Public Opinion

The collective attitudes, beliefs, and values of the general public or specific groups about issues, policies, or elected officials, often shaped by political socialization.

Public Policy

Government policies designed to address public issues and create laws and actions to achieve desired outcomes for society.

Political Trust

Refers to the confidence and faith that citizens have in their political system and its institutions.

United States

A country in North America consisting of 50 states and a federal district, known for its democratic government and multicultural population.