Social cost is the sum of private cost and
A) price
B) quantity
C) supply
D) demand
E) external cost

Question

Quizplus · Accepted Answer

Social cost is defined as the total cost to society, which includes both the private cost incurred by producers and also any external costs to third parties who are not part of the transaction. External costs can include things like pollution, noise, or other negative impacts not accounted for in the market price.

Social Cost Is the Sum of Private Cost and