For an Equilibrium to Be Socially Optimal,it Must Be True

question 200

Multiple Choice

For an equilibrium to be socially optimal,it must be true that ________ to individual participants in the market are the same as those experienced by society as a whole.

• A) neither the costs nor the benefits
• B) the costs,but not the benefits
• C) the benefits,but not the costs
• D) both the costs and the benefits
• E) the taxes

---

Definitions:

Organizational

Pertaining to the structure and function of an organization, including its processes, policies, and personnel management.

Contractual Forms

denotes the various arrangements and agreements under which businesses and individuals engage in transactions, outlining the terms and conditions of their exchanges.

Average Variable Cost

The total variable cost divided by the quantity of output produced, representing the variable cost per unit of output.

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced, which decreases as production increases.