Which of the following statements about private and social costs associated with a negative externality is TRUE?

Question

Quizplus · Accepted Answer

All statements are true regarding private and social costs in the context of negative externalities. Social costs include both private costs and externalities, private costs do not account for externalities, and social costs are always equal to or greater than private costs due to the inclusion of externalities.

Which of the Following Statements About Private and Social Costs