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In relation to social interaction (the microlevel perspective),discuss sociologist Harold Garfinkel's
ethnomethodology approach.
Marginal Cost
An additional cost incurred for producing one more unit of a product.
Marginal Social Benefit
The additional benefit to society from consuming one more unit of a good.
Marginal Cost
The financial outlay required to produce an additional product unit.
Socially Optimal
The socially optimal point is where the societal benefits of consuming a good or service equal the societal costs of producing it, leading to an efficient allocation of resources.
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