The Optimal Quantity of a Public Good Occurs Where the Marginal

question 22

True/False

The optimal quantity of a public good occurs where the marginal benefit of the citizen who has the highest preference for the good just equals the good's marginal cost.

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Definitions:

Individualistic Cultural Differences

Variations in behaviors, traditions, and values that emphasize the importance of the individual over group allegiances across diverse cultures.

Success

The achievement of a goal, objective, or desired outcome, often associated with positive outcomes or the attainment of wealth, position, honors, or the like.

African-born Blacks

Individuals of African descent who are born on the African continent and may share distinct cultural, historical, and social experiences.

Ethnic Group Comparisons

The analysis and contrast of psychological, social, and cultural characteristics among different ethnic groups.