29. Which of the following statements best defines private costs? They are internal in the sense that the firm or household must explicitly take them into account. They are synonymous with social costs. They represent explicit costs incurred by business firms in the private sector. They are costs borne by people other than those who commit the action.

29. Which of the following statements best defines private costs?
They are internal in the sense that the firm or household must explicitly take them into account.
They are synonymous with social costs.
They represent explicit costs incurred by business firms in the private sector.
They are costs borne by people other than those who commit the action.

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