If the Marginal Social Benefit of Consuming a Product Exceeds

question 83

Multiple Choice

If the marginal social benefit of consuming a product exceeds the marginal social cost of producing it, social welfare is

• A)increased by reducing output
• B)decreased by expanding output
• C)unchanged by expanding or reducing output
• D)increased by expanding output
• E)maximized

---

Definitions:

Handwork

Manual or skilled labor involving the use of the hands and tools rather than machinery, often associated with crafts, artisanal production, and traditional techniques.

Machine Driven Industry

Industries that rely heavily on machinery and technology for production processes, marking a shift from manual to mechanized labor.

American Workers

Individuals employed in the United States, contributing to its economy and labor market.

Unskilled Workforce

A section of the labor market that has no special training or skills, typically associated with lower-paying jobs that require minimal education or training.