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If the Marginal Social Cost of Producing a good is higher than the marginal private cost -what has happened?

A Negative Externality. For example, in the production of Fuel, the private cost of producing the good (i.e £1) many not take into account the social cost of production (e.g pollution, climate change ect. )

Answered by Aled H. • Economics tutor

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If the Marginal Social Cost of Producing a good is higher than the marginal private cost -what has happened?

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If the Marginal Social Cost of Producing a good is higher than the marginal private cost -what has happened?

Related Economics A Level answers

When answering my essay question, what could be the key evaluative points when talking about fiscal policy?

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What are the main tools to used to meet the key economic objective of ecomic growth?

We're here to help

Company Information

Popular Requests

© MyTutorWeb Ltd 2013–2025

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Integrate the function f(x) = (1/6)x^3 + 1/(3x^2) with respect to x, between x = 1 and x = 3^(1/2), giving your answer in the form a + b*3^(1/2) where a and b are constants to be determined.