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Externalities include which of the following? a. Interfirm externalities b. Beneficial externalities c. Externalities in utility...

Externalities include which of the following?

a.

Interfirm externalities
b.

Beneficial externalities
c.

Externalities in utility
d.

All of the above.
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Answer #1

Option D.

  • Externalities include all of the following : interfirm externalities, Beneficial externalities, Externalities in utility.
  • Externalities refers to the actions of various individuaIs or firms that can either affect the third parties positively or negatively.
  • Beneficial externalities refers to those activities that can be beneficial to other people or third parties who are not directly involved. For example: when a person fixes a streetlight, all the people of community benefit from it.
  • Interfirm externalities refers to the production externalities in which the action's of any one firm depends on the productive actions of another firm.
  • Externalities in utility refers to the externality generated when one persons utility depends on another person. For example : when a person consumes pizza made by his friend.
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