Marginal Social Cost

question 260

Multiple Choice

Marginal social cost

• A) is the additional cost to the consumer of consuming another unit of a good.
• B) is equal to price times quantity sold.
• C) decreases as more of a good is produced and, hence, is depicted by a downward sloping curve.
• D) is the opportunity cost of producing one more unit of a good and, hence, is the same as the supply curve.

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Definitions:

Majority System

A voting system in which a candidate or proposition must receive more than half of the votes to win.

Electoral College Vote

A process used in the United States to elect the president and vice-president, where electors from each state vote based on the popular vote within their state.

Popular Vote

The total number of votes cast by citizens in an election, as opposed to electoral college votes or legislative votes.

American History

The study and account of past events, developments, and experiences in the United States from its founding to the present day.