Marginal Private Cost

question 47

Multiple Choice

Marginal private cost

• A) is the cost of producing an additional unit of a good or service that is paid by the producer of that good or service.
• B) is always zero if there is an external cost.
• C) equals the marginal social cost only if the marginal external cost is positive.
• D) is the cost of producing an additional unit of a good or service that falls on people other than the producer of that good or service.
• E) the cost of producing an additional unit of a good or service that is paid by the entire society.

---

Definitions:

Cones

Photoreceptor cells in the retina of the eye that function best in bright light and enable the perception of color and fine detail.

Dark Adaptation

The process by which the eyes increase their sensitivity to low levels of light, allowing for better vision in the dark.

Rods

Photoreceptor cells in the retina of the eye that are sensitive to low light levels and are primarily responsible for night vision.

Dark Adaptation

The process by which the eyes increase their sensitivity to low levels of light, improving the ability to see in the dark.