When the total external and internal costs of a transaction are taken into consideration, this is known as

A) public costs.
B) average total costs.
C) social costs.
D) marginal costs.

Answer: C

Economics

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If the minimum efficient scale in aluminum production exceeds the quantity of aluminum any individual aluminum siding producer buys,

a. siding producers should integrate backward into aluminum production b. there will be a monopoly in aluminum production c. siding producers should not integrate backward into aluminum production d. siding producers will be charged prices above what the cost of producing aluminum themselves would be e. siding companies will switch to vinyl

Economics

Privatization is the

a. process of turning private enterprises into public enterprises b. the same as nationalization c. process of turning public enterprises into private enterprises d. process of turning state-owned enterprises into public enterprises e. process of turning sole proprietor enterprises into corporate enterprises

Economics