When the cost of producing a product is paid, at least in part, by someone other than the producer, the cost is referred to as
A) an external cost.
B) an external profit.
C) an external benefit.
D) an external/internal cost.
E) a public cost.
A
Economics
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There is greater support for passive policymaking when
A) price flexibility is common. B) wage flexibility is common. C) pure competition is widespread. D) all of the above.
Economics
For a perfect competitor, price equals
A) marginal revenue only. B) average revenue only. C) both average revenue and marginal revenue. D) neither marginal revenue nor average revenue.
Economics