different cost and benefit abbreviations Flashcards
To rapidly identify the abbreviations of the different costs and benefits associated with externalities
1
Q
PC
A
private costs
2
Q
PB
A
private benefit
3
Q
EC
A
external cost
4
Q
EB
A
external benefit
5
Q
SC
A
social cost
6
Q
SB
A
social benefit
7
Q
MSC
A
marginal social cost
8
Q
MSB
A
marginal social benefit
9
Q
MPC
A
marginal private cost
10
Q
MPB
A
marginal private benefit
11
Q
ESC
A
external social cost
12
Q
ESB
A
external social benefit
13
Q
EPC
A
external private cost
14
Q
EPB
A
external private benefit
15
Q
DWL
A
dead weight loss
16
Q
MEC
A
marginal external cost
17
Q
MEB
A
marginal external benefit
