Which statement about the difference between private costs and social costs is TRUE: social cost only considers the cost assumed by the producer of the good. there is no difference. social cost only considers the external cost. private cost only considers the cost assumed by producers of the good.
Which statement about the difference between private costs and social costs is TRUE: social cost only considers the cost assumed by the producer of the good. there is no difference. social cost only considers the external cost. private cost only considers the cost assumed by producers of the good.
Chapter14: Environmental Economics
Section: Chapter Questions
Problem 1SQ
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Which statement about the difference between private costs and
social costs is TRUE:social cost only considers the cost assumed by the producer of the good.
there is no difference.
social cost only considers the external cost.
private cost only considers the cost assumed by producers of the good.
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