Question

Question 1

1. A cost paid by the consumer or the producers is called a(n):

   		private cost.
   		external cost.
   		social cost.
   		social surplus.

1 points

Question 2

1. A cost borne by people other than the consumer or the producer trading in the market is a(n):

   		private cost.
   		external cost.
   		social cost.
   		social surplus.

1 points

Question 3

1. The social cost is:

   		private cost.
   		consumer cost.
   		external cost.
   		the private cost plus the external cost.

1 points

Question 4

1. Social surplus is consumer surplus:

   		minus producer surplus.
   		plus producer surplus.
   		minus producer surplus minus everyone else