When a product benefits people other than the buyer of the product, the product is said to have

A) an external cost.
B) an excludable cost.
C) an external benefit.
D) an excludable benefit.
E) a subsidized benefit.


C

Economics

You might also like to view...

What determines potential GDP?

What will be an ideal response?

Economics

Which of the following statements is true?

A) Opportunity cost = explicit cost - implicit cost. B) Variable cost = wages + salaries + benefits. C) Total cost = fixed cost + variable cost. D) Total cost = fixed cost + implicit cost.

Economics

In the early 1930s, President Hoover told Americans that prosperity was just "around the corner." He was expressing the views of ______ economic theory.

A. Keynesian B. demand-side C. classical D. supply-side

Economics

Among the liabilities of a bank are its

A. loans. B. total reserves. C. excess reserves. D. transaction deposits.

Economics