The Social Cost of Producing a Commodity Is Equal to The

question 45

Multiple Choice

The social cost of producing a commodity is equal to the:

• 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.

---

Definitions:

Random Chance

The concept that events occur with no deterministic pattern or predictability, often used to explain the occurrence of events without apparent cause.

Anthrax

A serious disease caused by Bacillus anthracis, characterized by skin ulcers, lung infections, or septicemia, and affecting humans and animals.

Treatment

Medical care given to a patient for an illness or injury, aimed at relieving symptoms or curing the condition.

Experimental Variable

Factor of the experiment being tested.