Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the answer to this? In externalities, the difference between social cost and private cost is a measure of the loss in profit to

image text in transcribed

What is the answer to this?

image text in transcribed
In externalities, the difference between social cost and private cost is a measure of the loss in profit to the seller as a result of a negative externality. the external benefit of an externality. cost reduction when the negative externality is eliminated. the external cost of a negative externality

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business A Changing World

Authors: O. C. Ferrell, Geoffrey Hirt, Linda Ferrell

10th edition

1259179397, 978-1259179396

More Books

Students also viewed these Economics questions

Question

What is the reasonable expectations doctrine?

Answered: 1 week ago