The Efficient Output of a Pure Public Good Is Achieved

question 38

Multiple Choice

The efficient output of a pure public good is achieved at the point at which:

• A)the marginal benefit obtained by each consumer equals the marginal social cost of producing the good.
• B)the sum of the marginal benefits of all consumers equals the marginal social cost of producing the good.
• C)the marginal benefit of each consumer equals zero.
• D)the marginal social cost of producing the good is zero.
• E)Both (c) and (d) are correct.

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Definitions:

Basic Structure

The fundamental arrangement or framework of something, outlining its essential parts and their relationships.

Cattell

Refers to Raymond Cattell, a psychologist known for his pioneering work in personality theory, including the development of the 16 personality factors model.

Personality Traits

Enduring characteristics that describe an individual's behavior, attitude, and emotional responses, typically consistent over time.

Independent Evidence

Information or proof that supports a claim, separate from and not relying on other pieces of evidence.