Which of the Following Is True

question 277

Multiple Choice

Which of the following is true?

• A) MSC = MC + Marginal external cost
• B) MC = Marginal external cost - MSC
• C) MC = Marginal external benefit + MSC
• D) MSC = Marginal external cost + marginal external benefit

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Definitions:

Bargaining

The process of negotiating the terms of employment between an employer and a group of employees or their representatives.

Pattern Bargaining

A labor negotiation strategy where unions use the outcome of one successful negotiation as a model or "pattern" for subsequent negotiations with other employers.

Legal Bargaining Item

Issues or matters that are legally required to be negotiated in good faith between unions and employers during collective bargaining.

Union Representation

The act of a labor union acting as the intermediary between the workforce and management to discuss employment terms, grievances, and rights.