Marginal social cost is the marginal cost incurred by the entire society - by the producer and by everyone else on whom the cost falls. It is the sum of marginal _ and marginal _.

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Babygirlslaying7073 Babygirlslaying7073

26-02-2020
Business

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Marginal social cost is the marginal cost incurred by the entire society - by the producer and by everyone else on whom the cost falls. It is the sum of marginal _ and marginal _.

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fakunle32 fakunle32 · Answer 1 · 2020-02-27T06:38:51+01:00

Answer:

Marginal social cost is the sum of marginal private cost and marginal external cost

Explanation:

Marginal social cost is the total cost society pays for the production of another unit or for taking further action in the economy.

Marginal Social Cost= MPC+MEC

where MPC = Marginal private cost

MEC = Marginal external cost

A private cost of production is a cost that is borne by the producer of a good or service. on the other hand, A marginal external cost is the cost of producing an additional unit of a good or service that falls on people other than the producer.

Marginal social cost is the marginal cost incurred by the entire society​ - by the producer and by everyone else on whom the cost falls. It is the sum of marginal​ _____ and marginal​ _____.

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Marginal social cost is the marginal cost incurred by the entire society - by the producer and by everyone else on whom the cost falls. It is the sum of marginal _ and marginal _.