When the Cost of Producing a Product Is Paid, at Least

question 61

Multiple Choice

When the cost of producing a product is paid, at least in part, by someone other than the producer, the cost is referred to as

• A) an external/internal cost.
• B) an external benefit.
• C) an external cost.
• D) an external profit.
• E) a public cost.

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Definitions:

Net Income

Net income is the amount of money left after all expenses, taxes, and costs have been subtracted from a company's total revenue.