A sunk cost is a cost that has already been paid and cannot be recovered

Marginal social cost is equal to ________

A) marginal private cost plus the marginal external cost B) the marginal external cost C) the value of the tax that will make the market efficient D) the marginal cost imposed on people other than the producer of the good

During the winter of 1997-1998, the northeastern United States experienced warmer than usual conditions. The price of home heating oil was less than it was during the previous winter, but people bought less home heating oil

This contradicts the Law of Demand. Indicate whether the statement is true or false