When the costs of an action are NOT fully borne by the two parties engaged in a transaction, this is called a(n)
A) externality.
B) opportunity cost.
C) property right.
D) internal cost.
Correct Answer:
Verified
Q2: Social costs are
A) private costs plus any
Q3: An individual who pays for a vehicle
Q4: There is "too much" steel production if
Q5: All of the following are private costs
Q6: If social cost exceeds private cost, there
Q7: When the social costs exceed the private
Q8: An externality that is NOT fully paid
Q9: Social costs are
A) costs borne by society
Q10: Where pollution is concerned, if an automobile
Q11: Private costs are the same as
A) implicit
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