The total cost to society of producing an additional unit of a good or service is the marginal
A) external cost.
B) damage cost.
C) social cost.
D) private cost.

Question

Quizplus · Accepted Answer

The marginal social cost includes all the costs to society of producing one more unit of a good or service, encompassing both the private costs incurred by the producer and any external costs imposed on others.

The Total Cost to Society of Producing an Additional Unit