An external cost of production will occur when:
A) common property resources exist
B) public goods are not provided by the free market
C) a firm does not consider the total social cost of production when choosing what level of output to produce
D) a firm does not consider the total social benefit of production when choosing what level of output to produce
Correct Answer:
Verified
Q19: Externalities are a problem only if:
A) decision
Q20: A situation where all individual markets are
Q21: Your next- door neighbour has a beautiful
Q22: If non- payers cannot be excluded from
Q23: Public goods are characterised by being non-
Q25: If an external cost arises in the
Q26: Environmentally harmful effects often tend to be
Q27: Social efficiency occurs when:
A) unemployment is low
Q28: From the list below, the best example
Q29: Producer surplus:
A) is equal to total cost
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