For Markets to Operate Efficiently, It Is Necessary That Private

question 59

Multiple Choice

For markets to operate efficiently, it is necessary that private marginal cost:

• A) be equal to output quantity.
• B) equal the cost of output.
• C) plus external cost be equal to output price.
• D) minus external cost be equal to output price.

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Definitions:

Sociocultural Theorist

An expert in a field that studies how society and culture influence human behavior and development.

Behavior-Focused

An approach that emphasizes modifying observable and measurable behaviors as a method to address psychological issues.

Humanistic-Existential

An approach in psychology that emphasizes the individual's inherent value and the importance of personal growth and understanding one's existence.

Positive Psychology

The study and enhancement of positive feelings, traits, and abilities.