For a Common Resource, the Equilibrium with No Government Intervention

question 30

Multiple Choice

For a common resource, the equilibrium with no government intervention is such that ________ is less than ________.

• A) marginal private cost; marginal social benefit
• B) marginal social benefit; marginal social cost
• C) marginal private benefit; marginal social benefit
• D) total social benefit; total social cost

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Definitions:

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A learning process by which a new response becomes associated with a specific stimulus.

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Offers a set of certification standards for responsible environmental policies.

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A set of international standards designed to help organizations ensure they meet customer and other stakeholder needs within statutory and regulatory requirements related to a product or service.

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An international standard providing guidelines on social responsibility for businesses and organizations.