Table 10-4
-Refer to Table 10-4. The social cost of the 2^nd unit of output that is produced is

Question

Table 10-4 -Refer to Table 10-4. The social cost of the 2^nd unit of output that is produced is A)$7. B)$23. C)$30. D)$38.

Quizplus · Accepted Answer

The social cost of producing 1 unit of output in the given situation is the sum of the private cost and the external costs incurred by society. From the table, the private cost of producing 1 unit of output is $30, and the sum of all external costs is $0. Therefore, the social cost of producing 1 unit of output in this situation is $30.

Table 10-4 -Refer to Table 10-4. the Social Cost of the 2nd

Table 10-4 -Refer to Table 10-4. the Social Cost of the 2^nd