An externality arises when ___________. Question 5 options: the good or ill effects of one person's actions, or a firm's operations, are not borne exclusively by that person or firm people who cannot be excluded from enjoying a public good may prefer to get a free ride on what others provide people with open access to a common resource have little incentive to moderate their use of the resource, knowing that others will take what they do not all of the above are correct none of the above are correct