If Firms Have to Account for External Costs of Production

question 270

Multiple Choice

If firms have to account for external costs of production, then marginal social cost

• A) equals marginal cost.
• B) is less than marginal cost.
• C) is greater than marginal cost.
• D) is zero.

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Definitions:

Appropriate Defence

Strategies or actions taken by individuals or groups to protect themselves against criticism, legal actions, or other threats.

Organizing Drive

The process undertaken by trade unions or workers to gain recognition for collective bargaining purposes, typically involving campaigning and gaining support from a workforce.

Union Organizer

An individual responsible for rallying support among workers, forming new unions or strengthening existing ones to negotiate better terms for employees' welfare.

Organizing Campaigns

Entails planning and executing strategies to promote certain goals or initiatives within an organization.