John raises bees to pollinate his orchard. A couple of bees which escaped ended up pollinating his neighbor's orchard, so
A) John's neighbor has received an internal cost of John's bee-keeping.
B) John's neighbor has received an external cost of John's bee-keeping.
C) John's neighbor has received an external benefit of John's bee-keeping.
D) None of the above is correct.
C
Economics
You might also like to view...
If productive efficiency characterizes a market
A) the marginal cost of production is minimized. B) the output is being produced at the lowest possible cost. C) firms use the best technology available to produce the good. D) firms produce the goods that consumers desire most.
Economics
In the long run, firms in markets that are ________ earn zero economic profits
A) perfectly competitive B) monopolistically competitive C) monopolies D) Both A and B
Economics