The ease with which an asset can be converted into the medium of exchange is known as _____

The figure above shows the marginal social cost curve of generating electricity and the marginal private cost curve. The difference between the marginal cost curve and the marginal social cost curve equals

A) marginal private cost. B) private cost. C) external cost. D) marginal external cost. E) Coasian cost.

The net benefit of a particular alternative equals:

A) the benefits received from the alternative plus the costs incurred in choosing the alternative. B) the benefits received from the alternative divided by the costs incurred in choosing the alternative. C) the costs incurred in choosing the alternative divided by the benefits received from the alternative. D) the benefits received from the alternative minus the costs incurred in choosing the alternative.