All the costs of a transaction are referred to as

Suppose there are two types of labor, high skilled and low skilled

The demand curve for high skilled labor lies ________ the demand curve for low skilled labor and the supply curve of high skilled labor lies ________ the supply curve of low skilled labor. A) above; above B) above; below C) below; below D) below; above

Much of the nation's coal is extracted by strip mining. This process leaves a huge barren hole in the ground when complete, and the cost of replanting the trees is approximately $10 per ton of coal. Burning the coal for electricity causes air pollution. No one knows how much damage the air pollution causes, but we know that for another $10 per ton the power plant can be outfitted with a pollution control device. What is one measure of the true social cost of coal fired electricity, in dollars per ton?

A. Private marginal cost plus the $10 replanting charge. B. Private marginal cost plus the $10 emission control charge. C. Only the $20 of replanting and emission control charges, because the other costs are private, not social. D. Private marginal cost plus the $20 of replanting and emission control charges.