If a Good Is Produced Up to the Point Where

question 41

Multiple Choice

If a good is produced up to the point where marginal social benefit equals marginal social cost, then:

• A) social welfare is maximized.
• B) the good is overproduced and the market is inefficient.
• C) firms are earning zero profits.
• D) all externalities have been eliminated.

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Definitions:

Organisational Asset

Assets, either tangible or intangible, that contribute to an organization's ability to create value, including human resources, intellectual property, and physical assets.

Job Design

The method of arranging duties, responsibilities, and tasks into an efficient work group to improve performance and job satisfaction.

Remuneration

Remuneration is the compensation or payment an individual receives for their labor or services, including wages, salaries, and bonuses.

Flexible Working Hours

A work arrangement that allows employees to choose their working times within pre-defined limits.