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31 August, 15:20

What is meant by social cost

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Answers (2)
  1. 31 August, 16:49
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    Social costs are private costs borne by individuals directly involved in a transaction together with the external costs borne by third parties not directly involved in the transaction.
  2. 31 August, 18:07
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    Social costs are private costs borne by individuals directly involved in a transaction together with the external costs borne by third parties not directly involved in the transaction.
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