The Economic Surplus of an Action Is

question 27

Multiple Choice

The economic surplus of an action is:

• A)the benefit gained by taking an action.
• B)the difference the explicit and implicit costs of taking an action.
• C)the difference between the benefit and the cost of taking an action.
• D)the money a person has left over after taking an action.

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Definitions:

Corporation's Owners

Individuals or entities that hold shares of stock in a corporation, giving them ownership rights and interest in the company's profitability and governance.

Tax Collector

An official or entity responsible for collecting taxes on behalf of a government.

Laissez-faire Leader

A leadership style characterized by minimal direct supervision, allowing team members significant freedom in how they accomplish their work.

Tasks

Specific duties or activities assigned to individuals or teams as part of their roles or projects.