A Negative Externality Exists If

question 134

Multiple Choice

A negative externality exists if

• A)there are price controls in a market.
• B)there are quantity controls in a market.
• C)the marginal social cost of producing a good or service exceeds the private cost.
• D)the marginal private cost of producing a good or service exceeds the social cost.

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Definitions:

Study Group

A group of individuals participating in a research study or an educational activity aimed at learning or investigating a particular topic.

Take Notes

The practice of writing down important information from a lecture, book, or any other source to facilitate learning and recall.

Descriptive

Relating to the process of describing, illustrating, or detailing the characteristics of a dataset.

Average Age

The mean age of a group of individuals, calculated by dividing the sum of their ages by the number of individuals.