Marginal social costs are equal to
A. marginal private costs + marginal external costs.
B. marginal private costs - marginal external costs.
C. marginal private costs + marginal internal costs.
D. marginal private costs - marginal internal costs.
Answer: A
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The price of a factor of production that is in fixed supply is called
A) opportunity cost. B) a compensating differential. C) economic rent. D) economic profit.
Untreated raw sewage is dumped directly into rivers and oceans
a. only in less-developed economies b. only in rural areas c. only in urban areas d. in every large city in the United States e. in some of the largest U.S. cities
Democrats argue that labor demand is ________, so ________ jobs will be lost when the minimum wage is raised.
A. elastic; many B. elastic; few C. inelastic; many D. inelastic; few
In the postwar era, the average business expansion has lasted about 59 months.
Answer the following statement true (T) or false (F)