question 21\na new, privately - owned “doggie day and night care” is causing serious protests in the…

question 21\na new, privately - owned “doggie day and night care” is causing serious protests in the community. dogs are barking late into the night, disturbing people in nearby homes who are trying to sleep. nearby residents are complaining of the smells in the neighborhood. under these conditions, the “doggie day and night care” business is an example of\n\na) the plight of the commons\n\nb) a positive externality\n\nc) a negative externality\n\nd) the free - rider problem\n\ne) the paradox of value

question 21\na new, privately - owned “doggie day and night care” is causing serious protests in the community. dogs are barking late into the night, disturbing people in nearby homes who are trying to sleep. nearby residents are complaining of the smells in the neighborhood. under these conditions, the “doggie day and night care” business is an example of\n\na) the plight of the commons\n\nb) a positive externality\n\nc) a negative externality\n\nd) the free - rider problem\n\ne) the paradox of value

Answer

Brief Explanations:

A negative externality occurs when the production or consumption of a good or service imposes costs on a third - party. Here, the "doggie day and night care" business is causing noise and smell problems for nearby residents, which are costs imposed on them. The plight of the commons refers to over - use of shared resources. A positive externality benefits third - parties. The free - rider problem is about people benefiting from a public good without paying. The paradox of value is about the difference between the price and the utility of a good.

Answer:

C. a negative externality