A cost imposed on people other than the consumers of a good or service is a:
a. price floor.
b. negative externality.
c. positive externality.
d. price externality.
b
You might also like to view...
Which of the following is correct about marginal and average products?
A) When the marginal product is increasing, the average product must be increasing. B) When the marginal product exceeds the average product, the average product must be increasing. C) When the average product is increasing, the marginal product must be decreasing. D) When the marginal product is decreasing, the average product must be decreasing. E) When the marginal product is increasing, the average product must be decreasing.
Public utilities are either government-owned or government-regulated firms
a. True b. False
A firm that is earning zero economic profit should go out of business
a. True b. False Indicate whether the statement is true or false
If the value of the consumer price index is 110 in 2005 and 121 in 2006, then the inflation rate is 11 percent for 2006
a. True b. False Indicate whether the statement is true or false