객관식
If the production of a good causes a negative externality, then the social-cost curve will lie ________________ the supply curve, and the socially optimal quantity is _________________ than the equilibrium quantity.
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7. Externalities
Externalities: Social Benefits and Social Costs
객관식
What is a positive externality?
A
A benefit received by third parties not involved in the transaction, making social benefit exceed private benefit.
B
A situation in which private and social benefits are equal so there is no external effect.
C
A cost imposed on third parties not involved in the transaction, making social cost exceed private cost.
D
A benefit that accrues only to the producer or consumer directly involved in the transaction (a private benefit).
검증된 단계별 안내1
Step 1: Understand the concept of externalities in economics. Externalities occur when a transaction between two parties affects a third party who is not directly involved in the transaction.
Step 2: Differentiate between positive and negative externalities. A positive externality provides benefits to third parties, while a negative externality imposes costs on third parties.
Step 3: Recognize that a positive externality means the social benefit (total benefit to society) is greater than the private benefit (benefit to the individual consumer or producer). This happens because third parties receive additional benefits without paying for them.
Step 4: Recall the relationship between social benefit and private benefit in the presence of a positive externality, which can be expressed as:
\[ \text{Social Benefit} > \text{Private Benefit} \]
Step 5: Conclude that a positive externality is best described as a benefit received by third parties not involved in the transaction, making social benefit exceed private benefit.
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