Externalities represent Group of answer choices the social cost associated with the production of a good or service. the costs added by third parties to the production of a good or service in a market. the costs or benefits received by third parties from the production activities in a market.

Externalities represent Group of answer choices the social cost associated with the production of a good or service. the costs added by third parties to the production of a good or service in a market. the costs or benefits received by third parties from the production activities in a market.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter14: Environmental Economics

Section: Chapter Questions

Problem 2SQ

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Question

Externalities represent

Group of answer choices

the social cost associated with the production of a good or service.

the costs added by third parties to the production of a good or service in a market.

the costs or benefits received by third parties from the production activities in a market.

Definition Definition Total cost incurred by the producers of goods and services as well as anyone who is impacted by the production of the commodity in terms of external cost.

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