Criteria of Ideal Economic Efficiency Requires That (I) All Actions

question 49

Multiple Choice

Criteria of ideal economic efficiency requires that (I) all actions generating more social benefit than cost be undertaken and (II) no actions generating more social cost than social benefit be undertaken.

• A) Both I and II are true.
• B) Both I and II are false.
• C) I is true; II is false.
• D) II is true; I is false.

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Definitions:

Volcanic Breccia

A type of rock consisting of angular fragments of volcanic material cemented together by finer-grained sediments or volcanic ash.

Volcanic Domes

Rounded, mound-shaped protrusions resulting from the slow extrusion of viscous lava from a volcano.

Hot Spot

A location on the Earth's surface that has experienced active volcanism for a long period, thought to be above a mantle plume.

Divergent Margin

A boundary between two tectonic plates that are moving away from each other, often associated with volcanic activity and seafloor spreading.