Which of the Following Is an Example of an External

question 6

Multiple Choice

Which of the following is an example of an external cost?

• A) Unemployment.
• B) Unfair pricing behavior by a monopoly.
• C) Automobile exhaust fumes.
• D) Poverty.

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Definitions:

Syllogisms

A form of logical reasoning where a conclusion is drawn from two given or assumed propositions (premises); each premise shares a common or middle term not present in the conclusion.

Reasoning

Reasoning is the cognitive process of thinking about something in a logical, rational way, to form conclusions, judgments, or inferences.

System II Thinking

is a mode of thought characterized by more deliberate, conscious, and analytical reasoning, often involving complex judgments or problem-solving.

System I Thinking

A term in psychology that refers to the fast, automatic, intuitive approach of decision-making, as opposed to slow, deliberate, analytical thinking.