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Economics
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28 Oct 2020

5. In the case of a negative externality, the social cost of production will

a. exceed the private cost of production.

b. be equal to the private cost of production.

c. fall short of private cost of production.

d. bear no significant relation to the private cost of production.

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Microeconomics
Skill
Defining Negative Externality
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Raushan Raj
Raushan RajLv8
28 Oct 2020

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Related questions

If a positive externality in consumption is present in a market, then

A. the market will at achieve economic efficiency.

B. the private benefit from consumption will be different than the social benefit from the consumption

C. the private cost of production will be equal to the private benefit from the consumption

D. the social cost of production will be equal to the social benefit from the consumption

E. the private cost of production will be different than the social cost of production

Which of the following describes how a positive externality affects a competitive market?
 
a. The externality causes a difference between the private benefit from consumption and the social benefit.
b. The externality causes a difference between the private benefit from production and the social cost of production.
c. The externality causes quantity demanded to exceed quantity supplied.
d. The externality causes a difference between the social cost of production and the social cost of consumption.

 

 

How do externalities affect markets?

If a positive externality in consumption is present in a market, then

a. the market will achieve economic efficiency.

b. the private benefit from consumption will be different than the social benefit from the consumption.

c. the private cost of production will be equal to the private benefit from the consumption.

d. the social cost of production will be equal to the social benefit from the consumption.

e. the private cost of production will be different than the social cost of production.

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