The Socially Efficient Level of Output Is Determined Where

question 11

Multiple Choice

The socially efficient level of output is determined where:

• A) marginal social cost equals marginal social benefit.
• B) marginal private cost equals marginal social benefit.
• C) average social cost equals average social benefit.
• D) average private cost equals average social benefit.

---

Definitions:

Nature

The phenomena of the physical world collectively, including plants, animals, the landscape, and other features and products of the earth, as opposed to humans or human creations.

Language Acquisition

The process by which individuals learn their native language(s), including the comprehension and production of speech.

Biological Explanations

Understandings or interpretations based on biological factors, such as genetics, brain structures, or evolutionary history, to account for certain behaviors or phenomena.