Considering the available options, the Private cost includes "A consumer pays $10 to watch a film at a cinema."
The other private cost among the options are
- The payment of interest on a bank loan
- The total monthly wage bill for a firm for its employees
- Working days lost due to influenza among employees fall due to the introduction of free vaccinations
What is the Private Cost?
Private Cost is the cost or amount of money individuals or firms incurred to purchase or produce commodities and services.
What is External Benefit?
External Benefit is the benefit derived by the people who are not part of the buying and selling of goods or services. In the available options, there is no external benefit.
What is Private Benefit?
Private Benefit is the benefit gotten by the individuals or firms during transactions of goods and services. In the available options, there is no private benefits.
What is External Cost?
External Cost is the cost incurred by the people not part of the business transactions.
Example of External cost
- A car breaks down on a busy road, causing congestion
- A leak from a nuclear power station contaminates local crops
- The introduction of new late-night flights increases noise levels
- Business insurance premiums rise due to an increase in crime
Note that Social costs are the combination of private costs and external costs, while Social benefits are the combination of private benefits and external benefits.
Hence, in this case, it is concluded that for every business activity, there is both private cost and benefits to the buyers and sellers.
Learn more about Social cost and social benefits here: https://brainly.com/question/7245234
