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question 16

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Use the following to answer questions:
Figure: Market Failure Use the following to answer questions: Figure: Market Failure   -(Figure: Market Failure)  Look at the figure Market Failure. Suppose the supply curve represents the marginal cost of providing streetlights in a neighborhood that is composed of two people, Ann and Joe. The demand curve represents the marginal benefit that Ann receives from the streetlights. Suppose that Joe's marginal benefit from the streetlights is a constant amount equal to AC. Providing G streetlights is _____ because the marginal social benefit is _____ the marginal cost. A)  efficient; equal to B)  efficient; greater than C)  inefficient; greater than D)  inefficient; less than
-(Figure: Market Failure) Look at the figure Market Failure. Suppose the supply curve represents the marginal cost of providing streetlights in a neighborhood that is composed of two people, Ann and Joe. The demand curve represents the marginal benefit that Ann receives from the streetlights. Suppose that Joe's marginal benefit from the streetlights is a constant amount equal to AC. Providing G streetlights is _____ because the marginal social benefit is _____ the marginal cost.


Definitions:

Charismatic Leadership

Is a leadership style characterized by the leader's ability to inspire and motivate followers through their personality, communication skills, and a compelling vision.

Transformational Leadership

A leadership style that inspires and motivates followers to achieve extraordinary outcomes and, in the process, develop their own leadership capacity.

Symbolic Actions

Acts or gestures that carry particular meanings or messages within a cultural or organizational context.

Dramatic Actions

Significant and bold moves taken to achieve an objective, often carrying high risk or impact.

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