If production of a good is known to create external benefits a. Those benefits are larger than those received by the consumers of that good b. Those benefits are smaller than those received by the consumers of that good c. Those benefits are the same as those received by the consumers of that good

Q: e the nature of t

A: An externality is a cost or benefit being caused by a producer which is not either financially…

Q: Question 29 E G H What kind of externality is depicted above? a. Positive Production Externality b.…

A: Externality is the spillover effect of consumption or production on third party.

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A: Externalities are important concepts in economics, representing the unintended side effects or…

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Q: Which of the following is referred to as a negative externality of smoking cigarettes?  A. the…

A: When the production or consumption of a certain good or service has an impact on a third party who…

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A: An externality is a market distortion that creates inefficiencies in the market outcome. It is the…

Q: What are externalities; and how the government can fix it

A: Externalities allude to the unintended or spillover impacts of an economic movement or decision on…

Q: why do externalities make market outcomes inefficient?

A: A third party, who is not directly related with the exchange or production of goods and services…

Q: externality arises when a. not all costs and benefits are included in the price of a good b. a…

A: The market failure occurs when the market demand and supply do not deliver the efficient result.

Q: Explain the factors affecting Demand.

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A: Market failure occurs when market fails to produce socially efficient level of output.

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A: .Externality is a situation when the consumption/production of a good/service affects people around…

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A: An activity by others that affects other parties is known as external cost. It may be cost or…

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A: External cost is the cost of production or consumption that imposes a negative impact on the third…

Q: best example of a positive external benefit generated

A: A positive external benefit is the benefit which an individual can get in spite of being unrelated.…

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A: Externality is the term for when the production or consumption of a good results in an additional…

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A: Externality refers to the external cost and benefits that are imposed on third parties without their…

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A: Market failure: - Market failure is the condition when there is an inefficient allocation of…

Q: Graphically, the effects of an external benefit can be shown as OA. a leftward shift of the market…

A: The quantity of an item or service that consumers are willing and able to buy at different prices…

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A: An externality is a cost or benefit incurred or received by a producer but not paid for by that…