The Efficient Quantity of a Public Good Is

question 134

Multiple Choice

The efficient quantity of a public good is

• A) the quantity produced by private firms.
• B) the quantity at which the marginal benefit equals the marginal cost.
• C) impossible to determine because each person's marginal benefit is different.
• D) the quantity at which the marginal benefit exceeds the marginal cost by as much as possible.
• E) the quantity determined by the intersection of the demand curve and the supply curve.

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Definitions:

Margin Of Error

The amount of error that can be tolerated in the results of a poll or survey, indicating the potential deviation from the true population parameter.

Confidence Interval

A spectrum of numbers, extracted from sample observations, presumed to hold the value of a not yet identified population characteristic.

Sample Mean

The average value of a set of data points taken from a larger population, used as an estimate of the population mean.

Sample Standard Deviation

A measure of the amount of variation or dispersion of a set of values in a sample.