If a Good Has an External Cost,the

question 104

Multiple Choice

If a good has an external cost,the

• A) unregulated competitive market outcome is efficient.
• B) marginal private cost reflects the external cost.
• C) unregulated competitive market outcome is inefficient.
• D) marginal social benefit is equal to the marginal social cost when the market is in equilibrium.
• E) external benefit must equal the external cost.

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Definitions:

Quantified Work Goals

Specific, measurable objectives related to work output that employees aim to achieve within a set time period.

Performance

The level at which an individual, device, system, or component accomplishes its designated functions.

Means-Ends Chain

A conceptual framework that links desired outcomes (ends) with the actions or resources (means) required to achieve them.

Higher-Level Objectives

Goals set at a strategic level that aim to achieve broader organizational visions and long-term success.