Social Cost Is _____

question 87

Multiple Choice

Social cost is _____.

• A)the sum of fixed and variable costs
• B)the difference between the total cost and opportunity cost
• C)the sum of private and external costs
• D)the difference between the private and external cost
• E)sum of fixed costs and opportunity costs

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Definitions:

Cash Discount

A discount offered to purchasers for paying their bill within a specified period, encouraging early payment.

Hormel

An American company known for its food products, particularly meats.

Trade Discount

A reduction in the listed price of a product or service offered by a seller to a buyer in the same trade.

Suggested Retail Price

The price that manufacturers recommend retailers to sell their products for to consumers, often seen as MSRP (Manufacturer's Suggested Retail Price).