The marginal social cost of production is: A. Vertical sum of the demand curve and the...
The marginal social cost of production is:
A. Vertical sum of the demand curve and the marginal cost of polluting
B. Horizontal sum of supply curve and the marginal cost of polluting
C. Horizontal sum of the demand curve and the marginal cost of polluting
D. Vertical sum of the supply curve and the marginal cost of polluting
Homework Answers
Ans: Vertical sum of the supply curve and the marginal cost of polluting.
Explanation:
MSC is defined as the change in society's total cost due to the production of an additional unit of a good or service.
MSC = Marginal Private costs (MPC) + Marginal External Costs (MEC)
MPC is the same as supply curve. So, the marginal social cost of production is the vertical sum of the supply curve and the marginal cost of polluting.
Thus, option [D] is correct answer.
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