A negative externality exists when
A. marginal social costs are less than marginal private costs.
B. marginal social costs are greater than marginal private costs.
C. marginal social benefits are less than marginal private benefits.
D. marginal social benefits are greater than marginal private benefits.
E. b and c
Answer: B
Economics
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Refer to the scenario above. Which of the following is likely to be true in this case?
A) A unique Nash equilibrium will occur. B) A socially inefficient equilibrium will occur. C) Multiple equilibria will occur. D) A dominant strategy equilibrium will occur.
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The biggest single factor affecting household income is the householder's age
Indicate whether the statement is true or false
Economics