Table 10-2 the Following Table Shows the Private Value, Private Cost, and Cost

question 454

Multiple Choice

Table 10-2
The following table shows the private value, private cost, and social value for a market with a positive externality.
-Refer to Table 10-2. What is the socially-optimal level of output in this market?

• A)3 units
• B)4 units
• C)5 units
• D)6 units

---

Definitions:

Quality Advocates

Individuals or groups who promote and support the improvement of quality within an organization or industry.

United States

A country located in North America, consisting of 50 states, and known for its significant impact on global culture, economy, and politics.

1980s

Refers to the decade recognized for significant cultural, political, and technological changes impacting various sectors globally.

Operational Approach

A manner of addressing tasks and problems through practical, action-based strategies focused on the efficient functioning of an organization.