When a Negative Externality Is Present

question 6

Multiple Choice

When a negative externality is present

• A)the market price is too low.
• B)the market price is too high.
• C)the market price is at equilibrium.
• D)none of these choices.

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Definitions:

Responsibility

The state or fact of having a duty to deal with something or of having control over someone; a moral obligation to behave correctly towards or in respect of.

Authenticity

The degree to which an individual's actions are congruent with their values, desires, and self-concept, leading to a genuine mode of existence.

Self-Concept

An individual's perception of themselves, including their beliefs, feelings, and thoughts about their own identity.

Ideal Self

Refers to an individual's perception of how they would ideally like to be, encompassing their goals and aspirations.