We read your photo as:

Which term refers to the cost of one unit change, considering the impact on society?

Economics

ScanSolve AI Answer

Answer

B\text{B}

B. marginal social

The cost of one unit change refers to the additional cost incurred when one more unit of a good or service is produced or consumed. In economics, this is known as the marginal cost. When considering the impact on society, it is called marginal social cost.

  • Average social cost is the total social cost divided by the number of units.
  • Total social cost is the sum of all costs (private and external) for all units.

Therefore, the cost associated with a one-unit change is the marginal cost.

The final answer is B\text{B}.

Was this helpful?

Try one yourself

A new problem that tests the same skill.

Still stuck on this one?

Ask a follow-up, and the answer starts from this question.

Got a different question?Ask your own question
Handwritten step-by-step solution preview

Handwritten Step-by-Step Solution

Get this as a handwritten image on WhatsApp — like a tutor wrote it for you.

Try on WhatsApp