Which of the Following Statements Best Defines Private Costs

question 223

Multiple Choice

Which of the following statements best defines private costs?

• A) They are internal in the sense that the firm or household must explicitly take them into account.
• B) They are costs borne by people other than those who commit the action.
• C) They are synonymous with social costs.
• D) They represent explicit costs incurred by business firms in the private sector.

---

Definitions:

Field Diameter

The visible area that can be seen through the microscope lens at a particular magnification.

Coarse Adjustment Knob

A control mechanism on a microscope used for making large adjustments in the focus, typically to initially bring the specimen into view.

Light Control

The manipulation of light intensity, direction, and duration, often in photography, theater, or interior design.

Substage Light

A light source mounted beneath the stage of a microscope, used to illuminate the specimen from below.