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Guest Guest
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5 years ago

Question 1.

Which of the following statements is TRUE about the relationship among external, internal and social costs?

• Internal costs will never equal external costs.

• Social costs will always be lower than internal costs.

• Internal costs will always be higher than external costs.

• Social costs will always be higher than external costs.

Question 2.

Which of the following statements is TRUE about the relationship among external, internal and social costs?

• Internal cost is the sum of social and external costs.

• Social cost is the difference between internal and external costs.

• External cost is the difference between social and internal costs.

• none of the above
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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zachcarytcriszachcarytcris
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