Private Costs

question 207

Multiple Choice

Private costs

• A)are borne by producers of a good while social costs are borne by government.
• B)are borne by consumers of a good while social costs are borne by government.
• C)are borne by producers of a good while social costs are borne by society at large.
• D)are borne by producers of a good while social costs are borne by those who cannot afford to purchase the good.

Understand the significance level (alpha level) and its role in hypothesis testing.

Recognize the impact of sample size on the reliability of statistical conclusions.

Identify when to use one-tailed and two-tailed tests based on research predictions.

Grasp the concept of degrees of freedom in statistical analysis.