When Social Costs for Using a Scarce Resource Are Included

question 75

Multiple Choice

When social costs for using a scarce resource are included, then there is

• A) a decrease in the production of the good.
• B) a negative externality.
• C) a decrease in the price of the good.
• D) a positive externality.

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Definitions:

Monitor

A device used for displaying images and videos, often connected to a computer or television system.

Identify Feelings

The process of recognizing and naming one's own emotional states.

Optimistic

A mindset or attitude characterized by the expectation of positive outcomes.

Problems

Problems are obstacles or challenges that need to be resolved or overcome through the application of strategies and solutions.