If the Marginal Social Cost of a Good Is $70

question 100

Essay

If the marginal social cost of a good is $70 and the marginal external cost is $20, what does the marginal private cost equal?

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Definitions:

Business Credit

The ability of a business to obtain goods, services, or money based on the trust that payment will be made in the future.

Tolerance for Ambiguity

The ability of an individual to remain comfortable and continue to function effectively in situations that are uncertain, unknown, or unclear.

Internal Locus

A psychological attitude where an individual believes that they can control their life and outcomes rather than external forces.