An external cost, such as the cost generated by pollution, is
A) a cost paid by consumers of the product.
B) a cost paid by producers of the product.
C) a cost paid by a third party or by society at large.
D) not a true opportunity cost of production.
C
Economics
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State and local tax receipts are dominated by
A) property taxes and state income taxes. B) state income taxes and sales taxes. C) property taxes and sales taxes. D) sales taxes and business taxes.
Economics
Government regulations
A) have no impact on supply. B) only change the quantity supplied, not the supply curve. C) are generally ineffective due to lobbying by suppliers. D) can change both quantity supplied as well as the supply curve.
Economics