Correctly Complete the Sentences Below from the Options Which Follow

question 84

Short Answer

Correctly complete the sentences below from the options which follow.
(a) If the MSC > the MSB then:
(b) If the MSB > the MSC, then:
(c) If the MSC = MC, then:

(i)the appropriate level of output is being produced that will lead to social efficiency.
(ii)insufficient output will be produced by the private sector for social efficiency to be achieved.
(iii)too much output will be produced by the private sector for social efficiency to be achieved.

---

Definitions:

Pre-Coded

Pertains to data or information that has been prearranged in a specific format or scheme to facilitate processing or analysis.

Ambiguities

Situations or statements that are unclear or have multiple interpretations.

Subgoaling

A strategy in problem-solving that involves breaking down a goal into smaller, more manageable goals to make the task more attainable.

Algorithms

A set of rules or steps to solve a problem or perform a task, often used in computing for data processing and mathematical calculations.