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The difference between social cost and private cost is a measure of the O cost of an externality. Ocost reduction when the negative externality is
The difference between social cost and private cost is a measure of the O cost of an externality. Ocost reduction when the negative externality is eliminated. cost incurred by the government when it intervenes in the market. O loss in profit to the seller as the result of a negative externality
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Macroeconomics Principles And Policy
Authors: William J. Baumol, Alan S. Blinder
11th Edition
0324586213, 978-0324586213
