External costs and external benefits are collectively referred to as:

A. externalities.
B. network externalities.
C. social externalities.
D. social welfare.


A. externalities.

Economics

You might also like to view...

The increase in output that results when one more unit of a variable input is hired is called

A) total physical product. B) marginal physical product. C) average physical product. D) marginal revenue.

Economics

Suppose a monopolist's demand curve lies below its average variable cost curve. The firm will:

a. stay in operation in the short-run. b. earn an economic profit. c. earn an economic profit in the long run. d. shut down.

Economics

Jaime’s income elasticity for science fiction novels is 1.2 and for mystery novel -1. For Jaime, science fiction novels are ____________and mystery novels are ____________:

a. normal; normal b. normal; inferior c. inferior; normal d. inferior; inferior

Economics

When glucose is high, cAMP is _____ : CAP _____ bind the lac operator, and RNA polymerase _____ bind the lac promoter.

A) high; does; does
B) low; does not; does not
C) high; does not; does
D) low; does not; does
E) None of the answers is correct.

Economics