If the Social Benefit Is Greater Than the Private Benefit

question 70

Multiple Choice

If the social benefit is greater than the private benefit in a particular market,then the socially optimal equilibrium will be at a quantity:

• A) greater than the private level.
• B) equal to the private level.
• C) less than the private level.
• D) greater than or less than the private level, depending on the size of the external costs.

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Definitions:

Multimedia Principle

The concept that people learn more effectively from words and pictures than from words alone.

Customization Principle

The concept that training and educational content should be tailored to meet the specific needs and preferences of the learner.

Computer-based Training

An educational or training process facilitated by the use of computers and software programs to provide interactive instruction in various subjects.

Development Cost

The total expenses incurred in the development of a new product, service, or system, including research, design, testing, and materials.