When External Costs Are Present

question 29

Multiple Choice

When external costs are present,

• A)There is market failure.
• B)There is government failure.
• C)Private costs are greater than social costs.
• D)The market conveys the full costs of production.

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Definitions:

Main Method

The entry point for a Java application, defined as public static void main(String[] args), where the program execution starts.

Java Applet

A small application written in Java that can be included in a web page to provide dynamic and interactive features.

.class File

A compiled Java bytecode file that the Java Virtual Machine can execute.

Compile

The process of converting high-level programming code into machine code that can be executed by a computer.