In the Presence of No Externalities

question 27

Multiple Choice

In the presence of no externalities,

• A) social marginal cost exceeds private marginal cost.
• B) social marginal cost is less than private marginal cost.
• C) social marginal cost equals private marginal cost.
• D) social marginal cost and private marginal cost cannot be compared.

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Definitions:

Efficiency

Results achieved compared to resource inputs.

HR Strategy

HR Strategy is a comprehensive plan that outlines how a business will manage its human resources to align with its business goals, including aspects such as recruitment, development, retention, and compensation of employees.

Distinctive Competencies

Unique abilities or characteristics of an organization that provide a competitive advantage and can't be easily replicated by competitors.

Internal Fit

The alignment between an organization's strategy, processes, and structures to ensure optimal performance and efficiency.