An externality is any activity for which an individual firm or consumer does NOT take into account all
A) associated costs and benefits.
B) of the ramifications of its actions on others.
C) negative impacts on the economy.
D) associated costs.
E) associated benefits.
Correct Answer:
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Q4: An economy that has no interaction with
Q5: A competitive equilibrium has the following
Q6: Making use of an economic model is
Q7: A Pareto optimum requires
A)
Q8: Points on the production possibilities frontier have
Q10: A Pareto optimum is a point that
A)a
Q11: Intertemporal substitution of labour suggests that
A)in the
Q12: The real wage is determined by
A)-(slope of
Q13: A competitive equilibrium is Pareto-optimal if there
Q14: The substitution effect that results from a
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