A Private Cost Is a Cost of Production That Is

question 53

Multiple Choice

A private cost is a cost of production that is borne by the

• A) producer of the good.
• B) government.
• C) consumer of the good.
• D) consumer of the good and the government.

---

Definitions:

Subcontracting

The practice of assigning part of the obligations and tasks of a contract to another party, often to specialize or expedite processes.

Initial Inventory

The amount of stock a company has on hand at the beginning of a financial or inventory period.

Regular Time Cost

The cost associated with normal operating hours or work performed during standard working times, excluding overtime or premium pay rates.