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Samuel Boyajian
on Oct 26, 2024

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An example that does NOT illustrate an external cost is:

A) the smoke nuisance of a factory.
B) zoning restrictions on your property.
C) land defilement from strip mining.
D) a spreading patch of weeds on your next-door neighbor's lawn.

External Cost

A cost that is not borne by the parties involved in an economic transaction, often affecting third parties.

Zoning Restrictions

Legal regulations governing how land within certain areas can be used, intended to separate residential property use from commercial and industrial uses.

Land Defilement

Refers to the degradation or contamination of land due to misuse or improper disposal of waste.

  • Distinguish between positive and negative externalities.
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Daryl MackiewiczOct 31, 2024
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