Marginal social cost is defined as the marginal private cost plus the opportunity cost.
When an extra or additional unit of a good or service this produced brings about a change in society's total cost. This change in society's total cost is called marginal social cost. This includes both the opportunity cost and the marginal private cost. So it is the total of the private cost and the external cost that the person has to pay.
Marginal private cost is the change in the total cost of the producer due to the production of an additional unit of a good or service. This cost is also known as the marginal cost of production For example if the production of a person's costs rises from$1,000 to $1,050 due to the production of this one good being produced for $50 is known as the marginal private cost.
The opportunity cost is the benefit the person would have gotten if he would have invested the money elsewhere. For example, if the person has an extra $50. He can either invest it in the business or he can invest it in the bank and get the interest. The interest money that the person has to forgo is called the opportunity cost.
Learn more about marginal social cost here:
brainly.com/question/26171632
#SPJ4
Answer:
First Year Depreciation: 12,400
Second Year Depreciation: 7,440
Explanation:
To calculate each period depreciation we multiply the book value by the double-declining rate of 2/5
At the last year, you will depreciate until salvage value is reached.
Hello,
Here is your answer:
The proper answer to this question is option B "false".
Here is how:
It is regular for a person to get a speeding ticket or break the law somehow on a daily basis.
Your answer is B.
If you need anymore help feel free to ask me!
Hope this helps!