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Homework answers / question archive / You are considering whether to enter a holiday lights display contest that pays $1,000 to the winner
You are considering whether to enter a holiday lights display contest that pays $1,000 to the winner. State whether each of the following constitutes private costs, private benefits, external costs, or external benefits.
Private costs Private benefits ernal costs External benefits U Increased traffic B Increased traffic la Increased traffic et Increased traffic congestion and congestion and congestion and congestion and difficulty parking on difficulty parking on difficulty parking on difficulty parking on your street your street your street your street Q Increased electric El Increased electric la Increased electric la Increased electric bill from the holiday bill from the holiday bill from the holiday bill from the holiday lights. lights. lights. lights. Q Winning the El Winning the la Winning the 13 Winning the holiday lights display holiday lights display holiday lights display holiday lights display contest contest. contest. contest.
a. Increased traffic congestion: External Cost, Private Cost.
b. Increased electric bill from the holiday lights: Private Cost.
c. Winning the holiday lights display contest: Private Benifit.
