Question

External costs are A. borne by the public but incurred by the government. B. borne by the government but incurred by the public. C. borne by individuals other than those who incurred them. D. another term for implicit costs.

Answer 1

Answer:

borne by individuals other than those who incurred them

Explanation:

External costs are costs that affects other people other than the people who partake in the activity.

Examples of activities that generate external costs are postive externality and negative externality.

Another name for external cost is opportunity cost.

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