The marginal social cost is:
A) the extra cost imposed on bystanders when an extra unit is produced and consumed.
B) the extra cost faced by a producer when an extra unit is produced and sold to a member of society.
C) the difference between the marginal external cost and the marginal private cost.
D) the sum of marginal private costs and marginal external costs.
Correct Answer:
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Q25: The extra external cost imposed on bystanders
Q26: The marginal external cost is the:
A)extra cost
Q27: All marginal costs, no matter who pays
Q28: Marginal private cost plus marginal external cost
Q29: Marginal social cost equals marginal _ cost
Q31: Mario is willing to sell an extra
Q32: Sellers must cover _ costs, but a
Q33: Costs that arise from a market transaction
Q34: Margarite opened a successful restaurant two years
Q35: (Figure: MSC and MPC Curves) Use the
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