Question
With a positive externality, 1. the private benefit is greater than the total benefit to society (or social benefit). 2. the private cost is greater
With a positive externality,
1. the private benefit is greater than the total benefit to society (or social benefit).
2. the private cost is greater than the total cost to society (or social cost).
3. the total cost to society (or social cost) is greater than the private cost.
4. the total benefit to society (or social benefit) is greater than the private benefit.
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
