If Firms Have to Account for External Costs of Production

question 270

Multiple Choice

If firms have to account for external costs of production, then marginal social cost

• A) equals marginal cost.
• B) is less than marginal cost.
• C) is greater than marginal cost.
• D) is zero.

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Definitions:

Applied Voltage

The voltage that is externally applied to an electrical component or circuit.

Total Current

The combined current that flows in an electrical circuit, which, in parallel circuits, is the sum of the individual currents through each component.

RLC Parallel Circuit

A circuit consisting of a resistor (R), an inductor (L), and a capacitor (C) connected in parallel.

Applied Voltage

The external voltage that is applied to an electrical device or circuit, which drives the current flow through it.