C] however, congestion occurs and social marginal cost lies above private marginal cost.
What does SMC stand for?
SMC stands for Social Marginal Cost (economics)
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of SMC
We have 798 other meanings of SMC in our Acronym Attic
- Skyline Madison Campus (TriStar Behavioral Health Services; Tennessee)
- Släckmedelscentralen SMC AB
- Sleep Mode Connection (ATMF)
- Sliding Mode Control
- Small and Medium Companies
- Small Magellanic Cloud (also see LMC)
- Small Multiuser Computer (Contract)
- Smart Media Card
- Smith-McCort Dysplasia
- Smooth Muscle Cell
- Social Marketing Company (Bangladesh)
- Social Media Club (various locations)
- Social Ministry Committee (various organizations)
- Société Marseillaise de Crédit (French bank)
- Société Mathématique du Canada (French: Canadian Mathematical Society)
- Society of Marine Consultants, Ltd.
- Society of Midwest Contesters (Amateur Radio organization in Illinois)
- Software Maintenance Concept
- Software Model Checking
- Solaris Management Console
Samples in periodicals archive:
If patients were uninsured, and consuming at point A, there would be a welfare loss associated with underconsumption because the value of care going from A to F (the area under the demand curve between A and F) exceeds the cost (the area under social marginal cost associated with quantities C and D).
ABBREVIATIONS F-H: Fuest and Huber (2001) MCF: Marginal Cost of Public Funds MECR: Marginal Efficiency Cost of Redistribution M-R: Meltzer and Richard (1981) MUI: Marginal Utility of Income RHS: Right Hand Side SMCF: Social Marginal Cost of Public Funds REFERENCES Alesina, A.
In this case, the social marginal cost of the public good equals its private marginal cost of production.