QuestionJuly 28, 2025

You are-tonsidering whether to buy a house for 80,000 or another identical house located near high-voltage electric power lines, for 70,000 Assume that it has been established that living near high-voltage lines increases the risk of cancer due to electromagnetic fields (EMFs). True or False: If you choose the 70,000 house, the radiation from EMFs is not an externality. True X False

You are-tonsidering whether to buy a house for 80,000 or another identical house located near high-voltage electric power lines, for 70,000 Assume that it has been established that living near high-voltage lines increases the risk of cancer due to electromagnetic fields (EMFs). True or False: If you choose the 70,000 house, the radiation from EMFs is not an externality. True X False
You are-tonsidering whether to buy a house for 80,000 or another identical house located near high-voltage electric power lines, for 70,000 Assume that it has been established that living near high-voltage lines increases the risk of cancer due to electromagnetic fields (EMFs). True or False: If you choose the 70,000 house, the radiation from EMFs is not an externality. True X False

Solution
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Answer

False Explanation 1. Define Externality An externality is a cost or benefit that affects a party who did not choose to incur that cost or benefit. 2. Analyze the Situation If you choose the \70,000 house, you are directly affected by the EMFs, meaning the radiation is a cost you have chosen to incur. 3. Determine if Radiation is an Externality Since you are aware of and choosing to live near the high-voltage lines, the radiation from EMFs is not an externality for you.

Explanation

1. Define Externality<br /> An externality is a cost or benefit that affects a party who did not choose to incur that cost or benefit. <br />2. Analyze the Situation<br /> If you choose the \$70,000 house, you are directly affected by the EMFs, meaning the radiation is a cost you have chosen to incur.<br />3. Determine if Radiation is an Externality<br /> Since you are aware of and choosing to live near the high-voltage lines, the radiation from EMFs is not an externality for you.
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