Refer to the Accompanying Table,where Q Represents the Quantity Produced,internal

question 41

Multiple Choice

Refer to the accompanying table,where Q represents the quantity produced,internal cost and social cost are given for various quantities,and P represents the price consumers are willing to pay for various quantities. The external cost is equal to __________ per unit.

• A)$60
• B)$70
• C)$20
• D)$50
• E)$30

---

Definitions:

Procure-to-Pay

An end-to-end process in the procurement function that starts with sourcing and ends with payment for the procured goods or services.

Insourcing

The practice of conducting business processes or services internally rather than outsourcing them to third-party firms.

Unique Process

A specialized and distinctive method or procedure employed in the production of goods or delivery of services.

Outsourcing

The practice of hiring third parties to perform services or create goods that traditionally were performed in-house, often for efficiency and cost savings.