Multiple Choice
Which situation involves an external cost?
A) Winston doesn't understand his economics textbook-which was not written by Professor Chiang-and he feels he has wasted his money.
B) Alma lives next to a freeway and the noise wakes her up every morning, against her wishes, at six o'clock.
C) Pablo can't decide whether to go to Hong Kong for brunch or Paris for lunch, and he doesn't think it is fair that he can't do both.
D) Johnston thinks that the price of gasoline is too high.
Correct Answer:
Verified
Correct Answer:
Verified
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