An industry that generates detrimental externalities will have a marginal social cost higher than the marginal private cost to the industry

A situation in which an individual has no information about probabilities and the underlying distributions of the possible outcomes of an investment choice is called:

a. a prior distribution. b. updating. c. risk tolerance. d. pure uncertainty.

Adam Smith was the author of the 1776 book An Inquiry into the Nature and Causes of the Wealth of Nations

a. True b. False Indicate whether the statement is true or false