The Market Output Level Tends to Be Socially Optimal When

question 128

Multiple Choice

The market output level tends to be socially optimal when

• A)Demand equals supply in the market
• B)All costs and benefits are private and MSB=MSC
• C)There is neither a shortage nor a surplus of the product
• D)There are externalities in production
• E)There are externalities in consumption

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Definitions:

Laissez-faire Leader

A leadership style characterized by minimal direct supervision, allowing team members significant freedom in how they accomplish their work.

Tasks

Specific duties or activities assigned to individuals or teams as part of their roles or projects.

People

Human beings, individually or collectively, considered in a social, professional, or personal context.

Trait Theories

Psychological perspectives that suggest individual behaviors, motivations, and personalities are conditioned by inherent traits.