For a Common Resource,efficiency Requires That the ________ Equals the ________

question 95

Multiple Choice

For a common resource,efficiency requires that the ________ equals the ________.

• A) marginal private benefit; marginal private cost
• B) marginal social benefit; marginal private cost
• C) marginal social benefit; marginal social cost
• D) marginal external benefit marginal external cost
• E) marginal social benefit; marginal external cost

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Definitions:

Authority

The power or right to give orders, make decisions, and enforce obedience.

Order

The arrangement or organization of people, tasks, or things following a particular sequence, pattern, or method.

Coercive Power

This refers to the ability of a person to force others to comply with orders or requests through threats, punishment, or negative consequences.

Threat

A potential cause of harm or a danger that may negatively impact something or someone.