The economic gain that a positive externality provides to others is called:
A. an internal benefit.
B. an external benefit.
C. an external cost.
D. an internal cost.
B. an external benefit.
Economics
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An increase in the price of an input will cause supply to increase
Indicate whether the statement is true or false
Economics
For a person who consumes only steak and lobster, a fall in either the price of a steak or the price of a lobster shifts the budget line for the two leftward and does not change its slope
Indicate whether the statement is true or false
Economics