Which of the following best describes social benefits?
A) The external benefits to other members of society, ignoring the private benefits to market participants.
B) The sum of external benefits and private benefits.
C) External benefits minus benefits.
D) Private benefits minus external benefits.
Correct Answer:
Verified
Q7: The costs of an economic activity borne
Q8: At the market output and price for
Q9: If firms pollute when they produce:
A) marginal
Q9: Firms that emit toxins into the air:
A)
Q10: Which of the following best describes social
Q12: The socially efficient level of output is
Q13: At the efficient level of pollution, the:
A)
Q15: Private costs are:
A) the full resource costs
Q16: Economists view pollution as an economic problem
Q18: People are unlikely to choose to pay
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents