Economics-Microeconomics

Business

Quiz 17 :

Externalities

Quiz 17 :

Externalities

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Which of the following illustrates the concept of external benefit?
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D

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An example of an activity that generates an external cost is
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A

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The cost of producing an additional unit of a good or service that is borne by the producer of that good or service is the
Free
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B

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In which of the following markets are external benefits most likely to exist?
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Suppose a firm produces pollution when it generates electricity. The cost of the pollution is called the
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The cost of producing one more unit of a good or service that is paid by the producer
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A private cost is a cost of production that is borne by the
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A private cost is a cost of production that is
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Air pollution caused by lead
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Beautification of the national highways through the planting of shrubs and wildflowers will
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An example of an externality occurs when a chemical factory
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When people decorate the exteriors of their homes with colored lights, they create ________ for the motorists who pass by.
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The external benefit of a good
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An externality occurs when
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Which of the following is an example of an external cost?
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A cost that arises from the production of a good that is paid by someone who did not participate in the production is called
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An externality can be a
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Which of the following episodes would most likely contain an externality?
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Which of the following does NOT contain an externality?
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An externality can be a cost or benefit arising from the production of a good that falls upon
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