If the Marginal Social Benefit of a Public Good Is

question 2

Multiple Choice

If the marginal social benefit of a public good is greater than the marginal social cost of providing the good, then:

• A)the private market will best determine who and how much of the good will be provided.
• B)a community will provide the good.
• C)the community will not provide the good.
• D)free riding will not occur, so the private market will provide the socially optimal amount.

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Definitions:

Great Schism

Refers either to the split between the Western Roman Catholic Church and the Eastern Orthodox Church in 1054, or the division within the Catholic Church from 1378 to 1417 when rival claimants to the papacy existed in Rome and Avignon.

Simony

The act of buying or selling ecclesiastical privileges, such as positions in the church hierarchy or pardons.

Swiss Reformation

A significant movement in the 16th century that led to the establishment of Protestantism in Switzerland, challenging the Catholic Church's influence and practices.

Communion

A Christian sacrament in which followers partake of bread and wine in remembrance of Jesus Christ's Last Supper, symbolizing unity with Christ and the church.