If a Good Has an External Cost, the

question 149

Multiple Choice

If a good has an external cost, the

• A) marginal private cost reflects the external cost.
• B) competitive market outcome is inefficient.
• C) competitive market outcome is efficient.
• D) marginal private benefit is equal to the marginal social cost.

Identify the relationship between effort, performance, and outcomes as described in expectancy theory.

Distinguish between different motivational theories, including McClelland's acquired needs theory, Alderfer's ERG theory, and goal-setting theory.

Apply expectancy theory to practical situations in motivating staff and improving work performance.

Recognize the significance of organizational justice and how it influences motivation and behavior in the workplace.

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