Figure 10-12
-Refer to Figure 10-12. An alternative label for the line labeled "Supply" would be
A)private value.
B)external value.
C)private cost.
D)external cost.

Name: Figure 10-12 -Refer to Figure 10-12. An alternative label for the line labeled "Supply" would be A)private value. B)external value. C)private cost. D)external cost.
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Question

Figure 10-12 
-Refer to Figure 10-12. An alternative label for the line labeled "Supply" would be
A)private value. 
B)external value. 
C)private cost. 
D)external cost.

Quizplus · Accepted Answer

The line labeled "Supply" represents the private cost of producing the good, as it reflects the costs incurred by the producer.

Figure 10-12 -Refer to Figure 10-12. an Alternative Label for the Line