A Private Cost Is a Cost of Production That Is

question 229

Multiple Choice

A private cost is a cost of production that is

• A) borne by the producer of a good.
• B) measured in marginal terms.
• C) borne by someone other than the producer of a good.
• D) measured in total terms.

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Definitions:

Ground

The solid surface of the Earth, or a reference point in electrical engineering for a return path for electric current.

Earth's Water

The total amount of water found on, under, and above the surface of the Earth, including oceans, ice caps, groundwater, lakes, and atmospheric water vapor.

Fresh Water

Water that has low concentrations of dissolved salts and other total dissolved solids, typically found in lakes, rivers, and groundwater.

Freshwater Lake

A body of water that has low concentrations of salts, typically found inland and not connected to the ocean.