Which of the following statements about private and social costs is TRUE?
A) Social costs include externalities.
B) Private cost do not include externalities.
C) Social costs are never smaller than private costs.
D) All of the above.
D
Economics
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The most common method used by the government to control negative externalities is
a. creation of private property rights b. obligatory controls c. taxation d. subsidization e. nationalization
Economics
The supply curve of labor facing an employer in a perfectly competitive labor market is
a. upward sloping b. downward sloping c. horizontal d. greater than MLC e. the MRP curve
Economics