Marginal social cost includes both the marginal private cost and the marginal external cost that production imposes on society

Name: Marginal social cost includes both the marginal private cost and the marginal external cost that production imposes on society
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Marginal social cost takes into account both the cost to the producer (marginal private cost) and the cost to society as a whole (marginal external cost). Therefore, the statement is true.

Marginal Social Cost Includes Both the Marginal Private Cost and the Marginal