Economics (AS & A Level) · May / June 2023 · Paper 32 · Question 6
9708Private costs and benefits, externalities and social costs and benefits
Which statement is correct?
- AExternal benefit minus private benefit equals social benefit.
- BPrivate benefit minus external benefit equals social benefit.
- CSocial benefit minus external benefit equals private benefit.
- DSocial benefit plus private benefit equals external benefit.
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Correct answer: C. Social benefit minus external benefit equals private benefit.
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