To Maximize the Net Social Benefit Received from a Good

question 9

Multiple Choice

To maximize the net social benefit received from a good or service, it should be produced up to the point where:

• A) total social benefit is equal to its total social cost.
• B) its marginal private benefit is equal to its marginal social cost.
• C) its marginal social benefit is equal to its marginal social cost.
• D) its marginal social benefit is equal to its marginal private cost.
• E) its marginal private benefit is equal to its marginal private cost.

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Definitions:

Modem

A hardware device that converts data between digital formats used by computers and analog signals used on telephone lines, enabling internet connectivity.

Network

A system of interconnected computers, devices, and technologies designed to communicate and exchange data.

Hub

A central point of connection in a network that redistributes data to various destinations.

Cloud Computing

The delivery of different services, including servers, storage, databases, networking, software, analytics, and intelligence, over the Internet to offer faster innovation, flexible resources, and economies of scale.