A positive externality exists when _____________________.

Select one:

a.costs spill over to an outside party who is not involved in producing or consuming the good

b.benefits spill over to an outside party who is not involved in producing or consuming the good

c.a situation occurs where an informed party benefits in an exchange by taking advantage of knowing more than the other party

d.the available information is initially distributed in favor of one party relative to another in an exchange