A Deadweight Loss Is Created

question 342

Multiple Choice

A deadweight loss is created

• A) only if the last unit produced has a marginal social benefit greater than its marginal social cost.
• B) only if the last unit produced has a marginal social cost greater than its marginal social benefit.
• C) only if the last unit produced has a marginal social benefit equal to its marginal social cost.
• D) if for the last unit produced, marginal social cost is greater than its marginal social benefit or if its marginal social benefit is greater than its marginal social cost.

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Definitions:

Benefits Unimportant

A perspective or situation where the advantages or positive outcomes of a product or service are undervalued or ignored by the customer or client.

Memorized Sales Presentation

A method of selling in which the sales pitch is precisely scripted for the salesperson.

Telephone Selling

The process of engaging potential customers through phone calls with the aim of promoting products or services and securing sales.

Core Principles

Fundamental beliefs or values that serve as the foundation for an organization, individual's actions, or the functioning of a system.