If the Marginal Social Cost of Producing a Good Exceeds

question 105

Multiple Choice

If the marginal social cost of producing a good exceeds the marginal private cost,then _____

• A)the quantity of the good being produced is too less.
• B)the price charged for the good is too high.
• C)the good produces a positive externality.
• D)the good produces a negative externality.
• E)social welfare is likely to increase by producing more of the good.

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Definitions:

Labor Force

All people who are employed, as well as those who are currently unemployed but are looking for work.

Vocational Development

The process of developing and managing one’s career path, skills, and interests in the professional domain.

Labor Force Discontinuity

Interruptions or gaps in a person's employment history, which may result from various reasons such as taking care of family, pursuing education, or unemployment.

Vocational Development

The process of developing and refining skills and knowledge related to one's chosen career or occupation.