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

Question

Quizplus · Accepted Answer

The social cost is the total cost to society, including both the private costs incurred by producers and consumers and any external costs to people not involved in the transaction.

The Social Cost Is