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.
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 ________.
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