_____________________ Requires That the Level of Provision of a Public

question 37

Short Answer

_____________________ requires that the level of provision of a public good occurs where the social marginal benefit equals the social marginal costs.

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Definitions:

Pessimism

The habit of viewing things from their bleakest angle or assuming that outcomes will be the most unfavorable, reflecting an absence of hopefulness or assurance about future prospects.

Optimism

A mental attitude reflecting a belief or hope that the outcome of some specific endeavor, or outcomes in general, will be positive, favorable, and desirable.

Quarter

One-fourth of a whole, often used to describe one of four equal parts of a year, hour, or any given quantity.

Seven Hours

A specific time duration equivalent to 420 minutes or 25,200 seconds.