A private cost is a cost of production that is
A) borne by the producer of a good.
B) measured in marginal terms.
C) borne by someone other than the producer of a good.
D) measured in total terms.
E) the same as an external cost.

Question

Quizplus · Accepted Answer

A private cost is a cost that is incurred by the producer of the good and is not passed on to anyone else. This cost can include expenses such as labor, materials, and overhead.

A Private Cost Is a Cost of Production That Is