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.

Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers

Private costs Private benefits External costs External benefits
Increased traffic congestion. Increased traffic congestion. Increased traffic congestion. Increased traffic congestion.
Increased electric bill from the holiday lights Increased electric bill from the holiday lights Increased electric bill from the holiday lights Increased electric bill from the holiday lights
Winning the holiday lights display contest. Winning the holiday lights display contest. Winning the holiday lights display contest. Winning the holiday lights display contest.
Neighbors have difficulty parking on your street Neighbors have difficulty parking on your street Neighbors have difficulty parking on your street Neighbors have difficulty parking on your street