For a Public Good,which Statement(s)accurately Describe(s)the Marginal Social Benefit (MSB)

question 54

Multiple Choice

For a public good,which statement(s) accurately describe(s) the marginal social benefit (MSB) ? I.MSB equals the sum of the individual marginal benefits for all of the consumers of that unit.
II.MSB equals the sum of each consumer's willingness to pay for that unit.
III.MSB is greater than any individual marginal benefit.

• A)I only
• B)II only
• C)I and II only
• D)I,II,and III

---

Definitions:

Pineal Gland

A small, pinecone-shaped endocrine gland in the brain that produces melatonin, a hormone that regulates sleep-wake cycles.

Melatonin

A hormone made by the pineal gland that regulates sleep and wakefulness.

Pituitary Gland

A small, pea-sized gland located at the base of the brain that produces hormones influencing various bodily functions.

Adrenal Gland

A small gland located above the kidneys that produces hormones such as adrenaline and cortisol, which are involved in stress response.