Because Public Goods Are Jointly Consumed, Which of the Following

question 61

Multiple Choice

Because public goods are jointly consumed, which of the following is obtained by summing the private marginal benefits across all individuals?

• A) Social marginal benefit
• B) Social marginal costs
• C) Private marginal costs
• D) External benefits of consumption

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Definitions:

Privacy

The right or condition of being free from unauthorized intrusion or disclosure of personal information.

Comparison Level

A standard that develops over time, allowing us to judge whether a new relationship is profitable or not.

Minimax Strategy

In relating to others, we try to minimise the costs and maximise the rewards that accrue.

Maternal Deprivation

A theory that suggests the lack of an attachment figure, especially a mother, during childhood, can lead to long-term cognitive, social, and emotional difficulties.