Social cost is
A) private cost minus external cost
B) the same as external cost
C) the same as production cost
D) private cost divided by external cost
E) private cost plus external cost

Question

Quizplus · Accepted Answer

Social cost is the total cost to society, which includes both the private cost incurred by producers and the external cost borne by others who are not directly involved in the production or consumption of the good or service.

Social Cost Is