The Efficient Output of a Public Good Occurs at the Point

question 71

Multiple Choice

The efficient output of a public good occurs at the point where the:

• A)curve formed by the horizontal summation of marginal benefit curves of users intersects the marginal cost curve.
• B)curve formed by the horizontal summation of the individual demand curves intersects the marginal cost curve.
• C)curve formed by the vertical summation of all users' demand curves intersects the marginal cost curve.
• D)curve formed by the vertical summation of the social cost curves intersects the social benefit curve.

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Definitions:

Funerary Oils

Oils used in the preparation of bodies for burial or cremation, often with the belief of purifying or consecrating the deceased.

Lapis Lazuli

A dark blue stone that undergoes metamorphosis, valued as a semi-precious gem for its vivid hue, cherished from ancient times.

Hydraulic Theory

In archaeology, the theory that explains civilization's emergence as the result of the construction of elaborate irrigation systems, the functioning of which required full-time managers whose control blossomed into the first governing body and elite social class; also known as irrigation theory.

Ecological

Pertaining to the relationships between organisms and their environment.