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If a neutral technological advance improves the production function, the neoclassical theory of distribution predicts:
Marginal Cost
The financial outlay required to produce an additional product unit.
Socially Optimal
The socially optimal point is where the societal benefits of consuming a good or service equal the societal costs of producing it, leading to an efficient allocation of resources.
Marginal Benefit
The increase in utility or enjoyment an individual gets by consuming an additional unit of a good or service.
Marginal Cost
The extra expense associated with creating an additional unit of a product or service.
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