Which of the following statements about private and social costs is TRUE?
A) Social costs include externalities.
B) Private cost do not include externalities.
C) Social costs are never smaller than private costs.
D) All of the above.
Question 2
If a production process creates pollution, a competitive market produces excessive pollution because
A) the firms do not include the social cost of the pollution in their profit-maximizing decisions.
B) the firms place too high a price on society's cost of inflation.
C) people are not injured by the pollution.
D) zero pollution is optimal.
Species currently endangered in Canada include (a) the Burrowing Owl, Athene cunicularia; (b) Taylor
Symbolic language may have helped reinforce exclusive sexual relationships within social groups in l
Shope’s Model of Young Driver Crash Risks The model shows that many factors contribute to crash ris
Social Institutions in Industrial and Postindustrial Societies.
Social Psychologist
Created Equal: A Social and Political History of the United States, Brief Edition