If the Social Benefit Is Greater Than the Private Benefit

question 43

Multiple Choice

If the social benefit is greater than the private benefit in a particular market, the private equilibrium will exist at a quantity that is _______ the socially optimal level.

• A)greater than
• B)equal to
• C)less than
• D)either greater than or less than

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Definitions:

External Environment

The conditions, entities, events, and factors outside an organization that influence its activities and choices.

Customer-Friendly

Practices or attributes that make interactions with customers positive, satisfying, and conducive to loyalty.

Direct Costs

Expenses that can be directly attributed to the production of a specific good or service, such as materials and labor.

Resistance To Change

The opposition or pushback that individuals or groups display towards alterations in procedures, policies, or environments within an organization.