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Environmental Economics and Sustainability

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Multiple Choice

What is an externality?

  1. A cost or benefit that arises from a transaction but is not reflected in the market price.
  2. A tax imposed on a good or service that generates negative externalities.
  3. A subsidy provided to a good or service that generates positive externalities.
  4. A regulation that limits the production or consumption of a good or service that generates negative externalities.
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