A large farm uses fertilizer that nearby landowners complain may contaminate their water. Tests are conducted and contaminants are found. The costs resulting from this decision are referred to as
A. factor costs.
B. external costs.
C. implicit costs.
D. opportunity costs.
Answer: B
Economics
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In a market with ________, one side of the market has private information that is relevant for the other side
A) asymmetric information B) perfect competition C) monopolistic competition D) positive externalities
Economics
The Federal Reserve System
I. is the central bank for the United States. II. is a United States government owned bank. III. is a branch of the Treasury of the United States. A) I only B) I and II only C) I and III only D) I, II, and III
Economics