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Author Question: Consider a housing development built near an existing airport. After the houses are occupied, ... (Read 151 times)

urbanoutfitters

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Consider a housing development built near an existing airport. After the houses are occupied, homeowners complain that the airport imposes a negative externality on them and it should be moved or otherwise limited. Is the airport a negative externality?
 
  A) No, the airport was there first.
  B) No, if the original property values reflect the costs imposed by the airport.
  C) No, airports are government entities and therefore don't impose costs on individuals.
  D) Yes, the airport's noise should be curtailed for the well-being of the homeowners.

Question 2

In general, an externality is created when
 
  A) people are affected (other than by price) by a transaction which they were not part of.
  B) firms produce a product of low quality and consumers don't like it.
  C) firms have to pay for polluting the environment.
  D) the government subsidizes education.


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jlaineee

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urbanoutfitters

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it


aruss1303

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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