Which situation involves an external cost?
A) Winston doesn't understand his economics textbook-which was not written by Professor Chiang-and he feels he has wasted his money.
B) Alma lives next to a freeway and the noise wakes her up every morning, against her wishes, at six o'clock.
C) Pablo can't decide whether to go to Hong Kong for brunch or Paris for lunch, and he doesn't think it is fair that he can't do both.
D) Johnston thinks that the price of gasoline is too high.
Correct Answer:
Verified
Q281: The French term for "let it be"
Q282: (Figure: Determining Surplus 2) In the graph,
Q283: Public goods are difficult to provide in
Q284: Since 2013, Venezuela has been experiencing shortages
Q285: Which statement explains why free markets fail
Q287: Price floors and price ceilings, although often
Q288: If there is only one provider of
Q289: When a scarce good or resource is
Q290: Suppose the actual price for good A
Q291: Which of these is NOT a public
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