Internalizing an externality makes _____

a. consumers pay a price that is equal to their private willingness to pay
b. producers charge a price that is equal to the marginal cost of production faced by them
c. the government tax a third party who has been affected by the externality
d. market participants consider the costs of or benefits to other parties while making decisions

d

Economics

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Since real GDP is adjusted for inflation and nominal GDP is not, nominal GDP must always be higher than real GDP. Do you agree or disagree? Why?

What will be an ideal response?

Economics

Medicare provides health care to _____

a. the elderly b. the needy c. the widowed d. the orphaned

Economics