As Long as the Marginal Benefit from a Good Is

question 167

True/False

As long as the marginal benefit from a good is greater than its marginal cost, an economy is operating efficiently.

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Definitions:

Parental Responsiveness

The degree to which parents are sensitive and responsive to their child's needs, signals, and emotional expressions.

Behavior Expectations

Standards or rules regarding how individuals should act in specific situations or environments.

Societal Laws

Societal laws are rules and regulations established by a community or country to regulate behavior and maintain order and peace among its members.

Conventional Stage

A stage in moral development where individuals' reasoning is based on conforming to social norms and expectations.