Figure 10-11 -Refer to Figure 10-11. Which of the Following Magnitudes Is

question 313

Multiple Choice

Figure 10-11
-Refer to Figure 10-11. Which of the following magnitudes is constant over all units of output?

• A)the private value of the last unit of output that was produced and sold
• B)the social value of the last unit of output that was produced and sold
• C)the external benefit of the last unit of output that was produced and sold
• D)the private cost of the last unit of output that was produced and sold

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Definitions:

Fraud

Deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Undue Influence

A form of manipulation that is used to persuade someone to act in a way that is not in their best interest, invalidating consent in contracts.

Principal

In financial terms, it refers to the original sum of money borrowed in a loan, or the initial amount of money invested, excluding any interest or profits. In legal terms, it can also refer to a person who grants authority to an agent to act on their behalf.

Salesperson

An individual who sells goods or services directly to customers for a company.