If the Social Cost of Producing a Good or Service

question 76

Multiple Choice

If the social cost of producing a good or service exceeds the private cost

• A)a positive externality exists.
• B)the sum of consumer surplus and producer surplus is maximized.
• C)the market achieves economic efficiency.
• D)a negative externality exists.

---

Definitions:

Political Leadership

Individuals or groups that guide or influence the public policies and governance of a society.

Positions

Refers to locations, roles, or perspectives within a particular context or system.

Men

Adult male humans, characterized biologically by XY chromosomes, but also defined by various social and cultural roles.

Deadly Feuds

Long-standing and often violent disputes or hostilities between families or groups.