A cost that is not factored into the market price of the products and services being produced is known as an external cost such as air pollution. The Keystone Pipeline System was a 2010-built oil pipeline that connected country C and the US and it was owned by TC Energy. According to the report from 2021, since the pipeline was built in 2010, there have been many spills, totaling 12,000 barrels of crude oil, and numerous leakage due to which the Keystone Pipeline was shut down. Whether it should be needful to prohibit any activity that generates external costs.

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Chapter 9, Problem 6QFD

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Concept Introduction: A cost that is not factored into the market price of the products and services being produced is known as an external cost such as air pollution. The Keystone Pipeline System was a 2010-built oil pipeline that connected country C and the US and it was owned by TC Energy. According to the report from 2021, since the pipeline was built in 2010, there have been many spills, totaling 12,000 barrels of crude oil, and numerous leakage due to which the Keystone Pipeline was shut down.

Whether it should be needful to prohibit any activity that generates external costs.

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