If the Marginal Benefit Received from a Good Is Less

question 174

Multiple Choice

If the marginal benefit received from a good is less than the marginal opportunity cost of production, then:

• A) society's well-being can be improved if production increases.
• B) society's well-being can be improved if production decreases.
• C) society's well-being cannot be improved by changing production.
• D) the market is producing too little of the good.

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Definitions:

Theodore Roosevelt

The 26th President of the United States, serving from 1901 to 1909, known for his progressive policies and conservation efforts.

Annexation

The act of a state unilaterally incorporating another territory within its domain, often without the explicit consent of the affected territory's populace.

Hawaiian Islands

An archipelago in the central Pacific Ocean and a state of the United States, known for its diverse natural scenery, warm tropical climate, and unique cultures.

Queen Liliuokalani

The last reigning monarch of the Kingdom of Hawaii, who was overthrown in 1893 in a coup backed by U.S. interests, leading to the eventual annexation of Hawaii by the United States.