The Socially Optimal Level of Output of Any Good Is

question 4

Multiple Choice

The socially optimal level of output of any good is the quantity where all marginal costs of production,private plus external,equal the

• A)marginal cost of production.
• B)marginal benefit to society.
• C)average benefit to society.
• D)total benefit to society.
• E)marginal benefit to the firm.

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