When Society Receives More Benefits from a Good Than the Individuals

question 119

Multiple Choice

When society receives more benefits from a good than the individuals who consume the good, then:​

• A)the marginal social benefit from the good is less than the marginal social cost.
• B)the average social benefit is less than the average social cost.
• C)the property rights on the good has been well defined.
• D)the production of the good generates a positive externality.
• E)the production of the good generates a negative externality.

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Definitions:

Abstract Class

An abstract class in Java is a class that cannot be instantiated on its own and can contain abstract methods, meant to be extended by subclasses.

Methods

Functions associated with objects in object-oriented programming, used to operate on the data contained within the object.

Complete Definitions

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Late Binding

A programming mechanism where the method to be called is determined at runtime instead of compile time.