If an external cost exists, then the marginal social cost curve will be to the left of the marginal cost of production curve.False

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When an external cost exists, the marginal social cost curve will be to the right of the marginal cost of production curve, not to the left. This is because the marginal social cost curve takes into account the external cost, which is a cost that is not borne by the producer but is instead borne by society as a whole.

If an External Cost Exists, Then the Marginal Social Cost