Which of the following statements is false?
A) Private costs are borne by the producer of the good or service.
B) Private benefits are received by the consumer of the good or service.
C) Social benefits are external benefits minus private benefits.
D) Social costs are private costs and any external costs.

Question

Quizplus · Accepted Answer

Social benefits are actually the sum of private benefits and external benefits, not the difference between them.

Which of the Following Statements Is False