The ________ Is the Cost of Paid by the Producer

question 56

Multiple Choice

The ________ is the cost of paid by the producer plus any cost paid by everyone else when another unit of a good or service is produced.

• A) marginal external cost.
• B) marginal private cost.
• C) marginal social cost.
• D) None of the above answers is correct.

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Definitions:

Independent Agencies

Governmental bodies that exist outside of the executive departments, created by Congress to address specific issues or oversee certain activities.

Legislative Agencies

Governmental bodies responsible for making laws, procedures, and regulations at various levels of government.

Executive Agencies

Agencies of the executive branch of government responsible for enforcing laws and administering public policy.

Enabling Legislation

A statute that specifies the name, functions, and specific powers of an administrative agency and grants the agency broad powers for the purpose of serving the public interest, convenience, and necessity.