Spillover costs and spillover benefits are also called negative and positive externalities because a.) the unintended...
Spillover costs and spillover benefits are also called negative and positive externalities because
a.) the unintended spillover costs increase the utility of third parties and the unintended spillover benefits decrease the utility of third parties
b.) the unintended spillover costs have a negative impact on third parities and the unintended spillover benefits have a positive impact on third partiies
c.) the intended spillover costs have a negative impact on third parties and the intended spillover benefits have a positive impact on third parties
d.) the unintended spillover costs have a positive impact on third parties and the unintended spillover benefits have a negative impact on third parties
Homework Answers
The correct option is b.
Spillover costs are known as negative externalities because they are external to the participants in transaction and decrease the utility of affected third parties. And it is called as positive externalities because they are external to participants in transaction and increase utility of affected third parties.
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Spillover costs and spillover benefits are also called negative
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b. A tax can correct for a negative externality and a subsidy to producers can correct for a positive externality because the tax shifts the cost onto firms producing the product, which (Click to select) output, while the subsidy Click to select and Click to select) output. a. Spillover costs and spillover benefits are also called negative and positive externalities because the unintended spillover costs have a positive impact on third parties and the intended spillover benefits have a negative...
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