A cost imposed on people other than the consumers of a good or service is a a. price floor. b....
Question:
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 ceiling.
Costs:
Costs refer to the monetary value incurred by a business when delivering services and producing goods in society. Moreover, various products in the economy have different costs depending on the value they bring to the consumers. Costs play an essential role by aiding the producers in determining the prices of products.
Answer and Explanation: 1
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View this answerThe correct answer is B) negative externality. An externality refers to the benefits or the costs that the third party incurs in the market due to...
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Positive Externality: Definition & Examples
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Chapter 7 / Lesson 20
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Learn what a positive externality is and why such an externality arises. Learn from positive externality graphs of production and consumption externalities.
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