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The existence of external benefit and external cost leads to misallocation of resources. External cost For example, when drivers are not liable for the health damage of car exhaust, drivers will equate only marginal private cost with marginal benefit. But if drivers are forced to pay for the health damage of car exhaust, their marginal cost will go up by the amount of the external cost.
cost of external consultants drops forum research shows by thomas parry amount spent on external consultants drops but the cost of compliance continues to rise at over 8 % the cost of compliance for the uk s 1 2 million micro small and medium sized employers is Â£ 20 billion in terms of actual coststhe perceived cost opportunity costs are Â£ 41 billion this is equivalent to Â£ 14900 per company cost have risen by 8 4 % with internal costs rising by 13 % but external costs dropped by 5 7 %members spend 15 % less time on employment law and 50 % less on external consultants than other uk businesses time is however now a greater issue than cost for forum membersost have risen by 8 4 % with internal costs rising by 13 % but external costs dropped by 5 7 % members spend 15 % less time on employment law and 50 % less on external consultants than other uk businesses time is however now a greater issue than cost for forum members