The Optimal Level of Provision of Public Goods Is Where

question 34

Multiple Choice

The optimal level of provision of public goods is where societyʹs total willingness to pay per unit is equal to the

• A) total cost of producing the good.
• B) average cost of producing the good.
• C) variable cost of producing the good.
• D) marginal cost of producing the good.

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Definitions:

Pia Mater

The inner membrane covering the brain and spinal cord; the innermost of the meninges; also see dura mater and arachnoid.

Arachnoid

The middle of the three meningeal layers that cover and protect the brain and spinal cord; see pia mater and dura mater.

Procedural Memory

A type of long-term memory that is responsible for knowing how to perform certain tasks without conscious awareness of the learning process.

Limbic System

A complex system of nerves and networks in the brain, involving several areas near the edge of the cortex and within the forebrain, responsible for the control of basic emotions and drives.