The marginal cost of production that is borne by the entire society is the
A) marginal private cost.
B) marginal external cost.
C) marginal social cost.
D) None of the above answers is correct.

Question

Quizplus · Accepted Answer

Marginal social cost includes both the private costs incurred by firms and also any external costs to society that may result from the production process.

The Marginal Cost of Production That Is Borne by the Entire