Coal production in the UK has fallen in recent years. One explanation for this is that the social cost of producing coal is too large. Which option best explains the social cost of coal production?
- Aall the benefits of coal production minus all the costs of coal production
- Bthe cost of the environmental damage caused by coal production
- Cthe cost to the government of subsidising the coal industry
- Dthe private costs of coal production plus the external costs of coal production