An externality is
A) a cost of a transaction that is borne by a third party
B) a benefit of a transaction that is enjoyed by a third party
C) a cost or benefit that arises when market price changes
D) any cost or benefit of a transaction that is not accounted for in the market price
E) the external revenue generated by a firm
Correct Answer:
Verified
Q2: All of the following are examples of
Q3: Which of the following would not be
Q4: Some pollution occurs because property rights to
Q5: When an activity results in the imposition
Q6: Private property rights are easily assigned to
Q8: Property rights can be defined and enforced
A)only
Q9: All of the following are sources of
Q10: Fish are
A)always renewable resources
B)renewable resources whenever property
Q11: When consumption of a good or service
Q12: The most likely reason why Los Angeles
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