Consider the consumption of public pasture land. What type of good is public pasture land? Public pasture land is A. a public good. B. a private good. OC. a quasi - public good. OD. an externality. OE. a common resource.

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Explicit and Implicit Cost Analysis

The entire idea of the cost of production or production cost is applied corresponding or we can say that it is related to money cost. Money cost refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factors of production or factor services.