A good’s marginal social cost is defined as its
A. marginal private cost minus the value of any detrimental externality.
B. incidental cost.
C. marginal private cost plus the value of any taxes paid on its production.
D. marginal private cost plus its incidental cost.
Answer: D
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The CPI was 96 in 1982, and the CPI was 230 in 2012 . How much money would you have needed in 2012 in order to buy what you could have bought with $500 in 1982?
a. $208.96 b. $1,197.92 c. $697.92 d. $1,697.92
Politicians will often be able to gain from support of trade restrictions because
What will be an ideal response?
In a dual economy with limited currency convertibility:
A. neither the traditional nor the international sector tends to be dollarized. B. only the traditional sector tends to be dollarized. C. only the international sector tends to be dollarized. D. both the traditional and international sectors tend to be dollarized.
Which of the following would cause quantity demanded to change without changing the demand curve?
A. A change in the price of the good B. A change in the price of a substitute good C. A change in tastes and preferences D. A change in income