An externality occurs when:
A) the consumer is unhappy with the product purchased
B) the producer is unhappy with the sale price
C) a third party is affected by a market transaction
D) a third party is affected by a nonmarket transaction
Correct Answer:
Verified
Q15: Overutilization of a resource typically occurs:
A) when
Q16: Tragedy of the Commons occurs when:
A) private
Q17: Examples of shared resources that are candidates
Q18: Tragedy of the commons occur in:
A) market
Q19: Solutions to the tragedy of the commons
Q21: In agriculture, negative externalities occur:
A) when using
Q22: A positive externality from agriculture is:
A) food
Q23: Bees and fruit production are:
A) positive externalities
Q24: Living in New York City is an
Q25: Living on a farm in the rural
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