The Efficient Output Level of a Public Good Occurs Where

question 43

Multiple Choice

The efficient output level of a public good occurs where the

• A)greatest number of free riders occurs.
• B)marginal cost of producing the last unit is equal to the marginal benefit realised by consumers.
• C)total cost of production is affordable.
• D)marginal cost of production is at its lowest.

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Definitions:

Physical Attractiveness

The degree to which a person's physical traits are considered aesthetically pleasing or beautiful by others.

Evolutionary Psychology

A theoretical approach to psychology that explains certain mental and psychological traits as the functional products of natural selection.

Fertile

Capable of reproducing or causing reproduction, often used in reference to soil quality or the reproductive capability of living organisms.

Affluent

Refers to individuals or areas that are financially well-off, possessing considerable wealth or resources.