1. "Social cost − private cost = External cost".

2. If the government can accurately gauge the social cost, the tax could equalize the marginal private cost and the marginal social cost.

3. How would you calculate the social cost of monopoly?

4. Social cost is also considered to be the private cost plus externalities.

5. With no production externality, marginal private cost and marginal social cost coincide.

6. - effects on society (economic and social cost of manpower deterioration, absorption of this cost).

7. Alcohol and tobacco inflict great harm on individual health and have a high social cost.

8. 29 Equilibrium will be inefficient. 7 Distortions occur whenever free market equilibrium does not equate marginal social cost and marginal social benefit.

9. The government should find the springhead of overload:correcting the market failure based on disaccord of private cost and social cost in freight market.

10. When the marginal social interest diverges from the marginal private interest, the industrialist has no incentive to internalize the cost of the marginal social cost.

11. 9 Coase explained that because he was released in 19 the "social cost" has aroused widespread attention, it is slowly remembered his 1937's "The Nature" (ibid. note, p. .