Classify each statement as true or false. True False     The social cost is the sum of private and external costs When the production of goods results in pollution, private, and social costs are the same. Private costs are the costs that the firm is not obligated to disclose to the public. The terms "social cost" and "external cost" are synonyms. When the production of good results in pollution, private and social costs are different. Pollution is an example of an external cost. Wages are an example of an external cost.

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A: Answer given below,

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Q: negative externality

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A:

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