Net Benefit Can Be Maximized by Finding the Greatest Difference

question 56

Multiple Choice

Net benefit can be maximized by finding the greatest difference between:

• A) total benefit and total cost.
• B) marginal benefit and marginal cost.
• C) marginal benefit and total cost.
• D) total benefit and marginal cost.

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Definitions:

Corporation

A legal entity that exists separately from its owners.

Legal Entity

Any organization that possesses separate legal personality from its members, such as corporations, partnerships, and sole proprietorships.

Personal Liability

The legal responsibility of an individual to bear the cost of damages or debt incurred through their actions or ownership.

Sole Proprietorship

A business owned and operated by a single individual, with no legal distinction between the owner and the business.