External costs and external benefits are collectively referred to as:
A)externalities.
B)network externalities.
C)social externalities.
D)social welfare.

Name: External costs and external benefits are collectively referred to as: A)externalities. B)network externalities. C)social externalities. D)social welfare.
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Question

Quizplus · Accepted Answer

External costs and external benefits are both types of externalities, which are costs or benefits that affect parties who did not choose to incur that cost or benefit.

External Costs and External Benefits Are Collectively Referred to As