An Example of a Situation in Which the Social Costs

question 239

Multiple Choice

An example of a situation in which the social costs are greater than the private costs would be

• A) a new restaurant takes business away from an established restaurant.
• B) hand-held calculators putting slide rule manufacturers out of business.
• C) when a member of a rock band's ability to hear deteriorates from performing in so many loud concerts.
• D) a physician who cannot examine patients with a stethoscope in an examination room adjacent to an airport.

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Definitions:

Tenant-Days

A metric in property management, indicating the total number of days that units were occupied by tenants within a specific period.

Wages and Salaries

Payments to employees for their work or services, typically on an hourly (wages) or annual (salaries) basis.

Planning Budget

A forward-looking budget that outlines the financial plans, objectives, and resources over a specific timeframe, often used for guiding the operations and evaluating performance.

Actual Results

The real outcomes or data recorded from operations or activities, compared to projections or budget expectations.