Private costs are those borne by:
A)the government.
B)the producer of an item.
C)both an item's producer and outside parties affected by a negative externality.
D)outside parties affected by a negative externality.

Question

Private costs are those borne by:
A)​the government.
B)​the producer of an item.
C)​both an item's producer and outside parties affected by a negative externality.
D)​outside parties affected by a negative externality.

Quizplus · Accepted Answer

Private costs refer to the costs that are directly incurred by the producer of a product or service, including expenses related to production, marketing, and distribution. These costs are typically borne by the producer and not shared with outside parties, such as consumers or the government.

Private Costs Are Those Borne By