What is Social Cost
Social cost in neoclassical economics is the sum of the private costs resulting from a transaction and the costs imposed on the consumers as a consequence of being exposed to the transaction for which they are not compensated or charged. In other words, it is the sum of private and external costs. This might be applied to any number of economic problems: for example, social cost of carbon has been explored to better understand the costs of carbon emissions for proposed economic solutions such as a carbon tax.
How you will benefit
(I) Insights, and validations about the following topics:
Chapter 1: Social cost
Chapter 2: Microeconomics
Chapter 3: Monopoly
Chapter 4: Perfect competition
Chapter 5: Deadweight loss
Chapter 6: Free-rider problem
Chapter 7: Externality
Chapter 8: Market failure
Chapter 9: Social credit
Chapter 10: Profit maximization
Chapter 11: Cost
Chapter 12: Marginal cost
Chapter 13: Pigouvian tax
Chapter 14: Allocative efficiency
Chapter 15: Marginal revenue
Chapter 16: Shadow price
Chapter 17: Market distortion
Chapter 18: Profit (economics)
Chapter 19: Spillover (economics)
Chapter 20: Economics of science
Chapter 21: Stock exchange
(II) Answering the public top questions about social cost.
(III) Real world examples for the usage of social cost in many fields.
Who this book is for
Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Social Cost.