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

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Definitions:

Centrality

Refers to the importance or influence of a particular node within a network, indicating its relative significance in the communication or functional structure.

Silent Authority

A form of power or influence exerted through presence or reputation rather than explicit verbal commands.

Assertiveness

The quality of being self-assured and confident without being aggressive, important for clear and effective communication.

Exchange

The act of giving one thing and receiving another, especially of the same type or value, often used in the context of social or economic transactions.