If you burn your trash in the backyard in spite of regulations against it, then you are
A) acting economically irrationally and creating a social cost.
B) avoiding the private costs associated with disposing your trash some other way and creating a social cost.
C) acting rationally and creating a positive externality.
D) saving landfill space and creating a social benefit.
Correct Answer:
Verified
Q2: What are property rights?
A)the title to ownership
Q3: When a negative externality exists, the private
Q7: An externality is
A)a benefit realized by the
Q9: Figure 5-1 Q12: Private costs Q15: A positive externality causes Q17: Mandatory motorcycle helmet laws are designed to Q18: Which of the following represents the true Q19: Which of the following is a source Q21: A market supply curve reflects the
A)are borne by producers of a
A)the marginal social benefit
A)external costs
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