Without Government Intervention,it Is ___________ True That ___________ in Equilibrium

question 44

Multiple Choice

Without government intervention,it is ___________ true that ___________ in equilibrium.

• A) always; private marginal benefit equals private marginal cost
• B) sometimes; private marginal benefit equals private marginal cost
• C) always; private costs equal private benefits
• D) always; social marginal benefit equals social marginal cost

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Definitions:

Firm

A business organization, such as a corporation, partnership, or sole proprietorship, that sells goods or services in exchange for money.

Profit-Maximizing Output

The quantity of production at which a firm achieves the highest possible profit.

Total Cost

The complete financial expenditure involved in the production of goods or services, including both fixed and variable costs.

Firm

A business organization, such as a corporation, partnership, or sole proprietorship, that sells goods or services to make a profit.