Externalities get their name from the fact that they are:
a. b and d.
b. unintended.
c. short lived.
d. outside of decisions.
e. outside of marketplace.
d
Economics
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Engel's law states that income elasticities are
a. negative for normal goods b. positive for inferior goods c. higher for food in industrialized nations than in nonindustrialized nations d. less than one for food e. usually about equal to one
Economics
If a firm produces nothing, which of the following costs will be zero?
a. total cost b. fixed cost c. opportunity cost d. variable cost
Economics