A Person Will Continue to Pursue an Activity Until His

question 73

Multiple Choice

A person will continue to pursue an activity until his or her marginal ________ equals his or her marginal ________ cost.

• A) benefit; damage
• B) benefit; social
• C) social cost; external
• D) benefit; private cost

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Definitions:

Small Businesses

Enterprises with limited resources and workforce, often characterized by local operation and lower volume of sales.

Dominate Industry

To hold a commanding or leading position in a particular market or sector.

Independently Owned

Independently owned describes a business or enterprise that is owned by an individual or a private group, not part of a larger corporation or conglomerate.

Succession Plan

A strategy for identifying and developing future leaders within an organization, to ensure continuity in key positions.