The Cost of Producing a Good or Service That Is

question 27

Multiple Choice

The cost of producing a good or service that is paid by people other than the producers is

• A) represented by the supply curve.
• B) an external cost.
• C) represented by the demand curve.
• D) the marginal cost.

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Definitions:

Cultures

The distinctive ideas, customs, social behaviors, and artifacts of a society or community.

Age Group

A classification of people based on their age, typically used for demographic, marketing, or study purposes.

Sequential Learning Processes

The method of acquiring knowledge or skills through a series of steps followed one after another.

Racial Identity

The aspect of personal identity that contributes to one’s self-image as a person of color. Evolves in relation to the sequential acquisition of three learning processes. See racial classification ability, racial identification, and racial evaluation.