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A client is recovering from cataract surgery and needs medication to prevent a potential eye infection.Which drug does the nurse question administering to the client?
Socially Optimal Quantity
The level of output where the marginal benefit to society of consuming another unit equals the marginal cost of producing it, leading to the most efficient allocation of resources.
Positive Externality
A benefit that is enjoyed by a third-party as a result of an economic transaction or activity.
Subsidy
A financial aid provided by the government or a public body to reduce the cost or price of goods and services, encouraging production or consumption.
Command-And-Control Policy
It refers to environmental policies that rely on regulations (permission, prohibition, standard setting, enforcement) rather than economic incentives or market solutions.
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