5/31/2016 11:00 PM 474/1005/29/2016 10:49 PM Gradeba Calaulator uestion 1 of 19

Question

5/31/2016 11:00 PM 474/1005/29/2016 10:49 PM Gradeba Calaulator uestion 1 of 19 Map sapling learming Indicate whether the statements below are true or false by dragging them into the appropriate bin. True False When the production of a good results Social cost is the sum of private and external costs. and I cost" are synonyms. in pollution, private and social costs are the same. 'externa When the production of a good results Pollution is an example Wage in pollution, private and social costs are of an external cos s are an example of an external cost different Private costs are costs that the firm is not obligated to disclose to the public. O Previo'Check Answer 0 Next Exit Hint

Explanation / Answer

True False The social cost is the sum of private and external cost. The terms "social cost" and "external cost" are synonymus. When the production of a good results in polltion, private and social costs are different. When the production of a good results in pollution, private and social costs are same. Pollution is an example of an external cost. wages are an example of an external cost. private cost are the costs that the firm is not obligated to disclose to public.

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