What is an externality? A. A fixed or variable cost incurred by firms to produce a good or service. B. The combined benefit and cost to those directly involved in production and consumption of a good or service. C. The ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than other producers. D. The highest valued alternative that must be given up to engage in an activity. E. A benefit or cost that affects someone who is not directly involved in the production or consumption of a good or service.
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Home » Business » What is an externality? A. A fixed or variable cost incurred by firms to produce a good or service. B. The combined benefit and cost to those directly involved in production and consumption of a good or service. C.