An external cost is:
A. the cost of a warehouse.
B. a cost of production in some other market.
C. the economic harm that a positive externality imposes on others.
D. the economic harm that a negative externality imposes on others.
D. the economic harm that a negative externality imposes on others.
Economics
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If Katherine claims that when it comes to buying shoes, "price is no object," her demand curve for shoes is likely to be
a. horizontal b. nonexistent c. upward sloping d. highly inelastic e. unit elastic
Economics
For a firm in a perfectly competitive industry, the demand curve for its own product is
A) horizontal. B) vertical. C) upward sloping. D) downward sloping.
Economics