The Benefit from an Additional Unit of a Good or Service

question 166

Multiple Choice

The benefit from an additional unit of a good or service that society receives from the consumption of that good or service is the

• A) marginal private benefit.
• B) marginal external benefit.
• C) marginal social benefit.
• D) opportunity cost.

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Definitions:

Uncertainty

The lack of certainty or predictability in situations, often leading to ambiguity and requiring risk management.

Panel Data

Data collected from the same individuals, households, or entities over several time periods, allowing for more complex analyses.

Secondary Data

Secondary data refers to information that was collected by another party for a purpose other than the current research need.

Syndicated Study

Research conducted by an organization that is then made available for purchase to multiple companies, often within the same industry.