Examlex
Which one of the following statements best explains why the diffraction of sound is more apparent than the diffraction of light under most circumstances?
Socially Optimal
A state of resource allocation that is most beneficial for society as a whole.
Equilibrium Outcome
The state in a market where supply equals demand, and there is no external pressure to change the price or quantity of goods and services.
Positive Externalities
Benefits that are enjoyed by a third-party or society at large as a result of an economic activity, without them directly paying for it.
Social Benefits
The advantages or positive effects that an action or policy has on society as a whole, including things like improved health, education, and welfare.
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