Plans were drawn up in Australia for a project to construct one of the world’s largest coal mines. The estimated cost of the project was $US12.5 million. It would generate employment, but it would also put endangered species at risk because large coal ships would harm the Great Barrier Reef. What effects would this project have on the following costs and benefits?
- Aprivate cost: decrease; private benefit: uncertain; external cost: uncertain
- Bprivate cost: increase; private benefit: decrease; external cost: increase
- Cprivate cost: increase; private benefit: increase; external cost: increase
- Dprivate cost: uncertain; private benefit: increase; external cost: increase