What is the private marginal cost of bob

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Reference no: EM133596721

Problem: An hour of a truck driver is valued at $20, which is the wage that Bob would make as a security officer if he did not drive during that hour. If he drives the truck, he would be spending $15 on gas. He would also then need to contribute $7 per hour in insurance for the city and another $6 in insurance for the truck company. What is the private marginal cost of Bob? What is the external marginal cost?

Reference no: EM133596721

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