To Maximize Total Welfare,one Must Equate ________ with ________

question 18

Multiple Choice

To maximize total welfare,one must equate ________ with ________.

• A) total social benefit; total social cost
• B) marginal social benefit; total social cost
• C) total social benefit; marginal social cost
• D) marginal social benefit; marginal social cost

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Definitions:

Population

Population refers to the total number of individuals or inhabitants within a specific area or belonging to a particular group.

Sample

A portion of a population selected for analysis or research, aimed to represent the larger group from which it is drawn.

Sociological Research

The systematic study of social behavior, norms, and institutions, often involving empirical investigation and analysis.

Collectivity

A term describing a group of individuals who share or are motivated by at least one common issue or interest, or work together to achieve a common objective.