Figure 10-10 -Refer to Figure 10-10. Which of the following statements is correct? A)The private cost of producing the 160^th unit of output is $16. B)The social cost of producing the 160^th unit of output is $22. C)The external cost of producing the 160^th unit of output is $6. D)All of the above are correct.

Question

Quizplus · Accepted Answer

The private cost is $16, the social cost is $22, and the external cost is the difference between social and private costs, which is $6.

Figure 10-10 -Refer to Figure 10-10. Which of the Following Statements Is