Westonci.ca connects you with experts who provide insightful answers to your questions. Join us today and start learning! Join our platform to connect with experts ready to provide detailed answers to your questions in various areas. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.
Sagot :
Consumption describes the individual use of products that can lead to externalities
What is consumption externalities?
EXTERNALITIES OF CONSUMPTION. A negative consumption externality occurs when a person's consumption lowers the well-being of others who are not reimbursed by the person. The direct advantage to consumers of consuming an additional unit of an item is known as the private marginal benefit (PMB).
In economics, consumption externalities exist when the utility function of an individual openly and directly takes into account the consumption of others, or when that individual is directly influenced by the consumption of others.
What are negative externalities in consumption?
A product's creation or use incurs costs for a third party, which is known as a negative externality. Commonly used illustrations of negative externalities are noise and air pollution.
To know more about consumption externalities visit:
https://brainly.com/question/23263334
#SPJ4
Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.
