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An external cost in the production of a good creates

Question # 00510874
Subject: Economics
Due on: 04/12/2017
Posted On: 04/12/2017 08:35 AM

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An external cost in the production of a good creates a difference between all of the following EXCEPT________.

marginal social cost and the marginal private cost
marginal benefit and the marginal private cost
costs borne by the producer and the costs borne by society in general
efficient quantity of output and the equilibrium quantity of output

I need to know which 1 of the 4 possible answers are correct


________ that accompany the production and consumption of certain goods and services, when added to the private costs of production reflect the social costs of production and consumption, or the total cost to society.
Marginal costs
External costs
Transaction costs
Private costs

Also which one of the 4 answers are correct here


Every polluter has an incentive to cheat by producing more pollution than the official limit, rather than incur the expense of ________.
emission inspections
efficient equilibrium
cap-and-trade
curtailing emissions



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Tags creates good production cost external costs cost private marginal production equilibrium output correct consumption external quantity answers efficient borne social producing question flag pollution cheat transaction polluter incentive emiions official societymarginal expense emiion capandtrade incur

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An external cost in the production of a good creates

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