A private cost is:
A) a cost paid by the consumer or the producer trading in the market.
B) a cost paid by people other than the consumer or the producer trading in the market.
C) the cost to everyone trading in all markets.
D) the cost of reaching an agreement.

Question

Quizplus · Accepted Answer

A private cost is a cost that is borne by the producer or the consumer exchanging goods and services in a market. It does not include any external costs imposed on third parties who are not involved in the transaction.

A Private Cost Is