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Which of the Following Statements Best Defines Private Costs

Question 14

Multiple Choice

Which of the following statements best defines private costs?


A) They are internal in the sense that the buyer or seller must explicitly take them into account.
B) They are costs borne by people other than those who commit the action.
C) They are synonymous with social costs.
D) They represent explicit costs incurred by producers in the private sector.

Correct Answer:

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