The Social Cost of Production Is the Sum of the Private

question 83

True/False

The social cost of production is the sum of the private cost and external cost.

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Definitions:

Package

In programming, a namespace that organizes classes and interfaces by functionality, making the code easier to manage and use.

Import Statement

The import statement in Java is used to bring in classes or entire packages, making them available to use in the code without needing to qualify names fully.

Math Class

The Math class is a built-in class in many programming languages that provides a library of mathematical functions and constants, such as trigonometric, logarithmic, and exponential functions.

Import Statement

A code statement used to bring a specific class or an entire package into visibility, so its members can be accessed without specifying their fully qualified name.