The marginal social cost of burning garbage in Houston is the sum of the marginal private cost and the marginal external cost." Is this assertion correct or incorrect?
What will be an ideal response?
The statement is correct. The marginal social cost of any activity is the sum of the marginal private cost plus the marginal external cost.
Economics
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An example of a factor of production is
A) a bottle of wine produced by a vineyard. B) the wine exported by a vineyard. C) a vintner hired by a vineyard. D) a loan granted to a vineyard.
Economics
Regarding the role of saving in economic growth, studies indicate that
A. there is a negative relationship between economic growth and saving. B. there is both a positive and a negative relationship between economic growth and saving. C. there is a positive relationship between economic growth and saving. D. there is no relationship between economic growth and saving.
Economics