When a person drives an automobile, that individual is creating
A) internal costs only.
B) private costs only because the individual pays for the insurance, gas etc.
C) external costs only.
D) social costs.
Correct Answer:
Verified
Q52: Social costs are
A) costs that are borne
Q53: The social costs of an activity are
Q54: Which of the following is NOT a
Q55: When social costs of an activity exceed
Q56: Which of the following statements is TRUE
Q58: John raises bees to pollinate his orchard.
Q59: When social costs of an activity exceed
Q60: External costs are
A) borne by individuals other
Q61: An externality
A) may be positive or negative.
B)
Q62: By adding internal costs to external costs,
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