In the presence of no externalities,
A) social marginal cost exceeds private marginal cost.
B) social marginal cost is less than private marginal cost.
C) social marginal cost equals private marginal cost.
D) social marginal cost and private marginal cost cannot be compared.
C
Economics
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A payment for the use of an input that exceeds the opportunity cost of the input is known as
A) real interest. B) economic profit. C) economic rent. D) economic cost.
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Total surplus = Value to buyers - Costs to sellers
a. True b. False Indicate whether the statement is true or false
Economics