If the Marginal Social Benefit of Ice Cream Curve Shifts

question 134

True/False

If the marginal social benefit of ice cream curve shifts rightward because people now like ice cream better than before, the marginal social cost curve of ice cream will shift leftward.

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Definitions:

Labor-intensive Business

A business that requires a high level of manual labor input compared to capital investment, typically characterized by a significant proportion of operational costs being attributed to human labor.

Capital-intensive Business

A type of business that requires significant investment in capital assets like machinery and equipment, often associated with manufacturing industries.

Service-intensive Business

A type of enterprise that primarily offers services rather than goods, requiring a high level of customer interaction and support.

Startups

Newly established businesses, typically in the technology sector, focused on a unique product or service.