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What are the difference between PRIVATE COST and SOCIAL COST in terms of 'educational institutions'

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter14: Environmental Economics

Section: Chapter Questions

Problem 16SQP

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What are the difference between PRIVATE COST and SOCIAL COST in terms of 'educational institutions' ?

Definition Definition Total cost incurred by the producers of goods and services as well as anyone who is impacted by the production of the commodity in terms of external cost.

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