Private costs are
A) external costs borne by private firms.
B) explicit costs rather than implicit costs.
C) costs borne by private members of society rather than governmental bodies.
D) costs borne solely by the individuals who incur them.
Answer: D
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The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. The firm's markup is ________ per calculator
A) zero B) $2 C) $4 D) $6
If the First National Bank has a gap equal to a negative $30 million, then a 5 percentage point increase in interest rates will cause profits to
A) increase by $15 million. B) increase by $1.5 million. C) decline by $15 million. D) decline by $1.5 million.
Originally considered by economist Robert Mundell, decades later, in 2001, Europe adopted a new common currency now known as:
A) the euroyen, ¥. B) the eurodollar, $. C) the europa, . D) the euro, €.
The 2 steps required to formulate fiscal policy
What will be an ideal response?