If the Social Cost of Producing a Good or Service

question 76

Multiple Choice

If the social cost of producing a good or service exceeds the private cost

• A)a positive externality exists.
• B)the sum of consumer surplus and producer surplus is maximized.
• C)the market achieves economic efficiency.
• D)a negative externality exists.

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Definitions:

Parental Support

The assistance and guidance parents provide to their children for emotional, physical, and financial needs.

Middle Age

A period in adult life that ranges approximately from the ages of 45 to 65, often characterized by stability, reflection, and transitions in personal and professional roles.

Masculine Ideal

A culturally and socially constructed concept of male behavior and traits that are considered desirable or appropriate within a society.

Gender Role Conflict

Psychological stress occurring when an individual encounters difficulty in meeting societal expectations associated with their gender.