The Efficient Quantity of a Public Good Is

question 134

Multiple Choice

The efficient quantity of a public good is

• A) the quantity produced by private firms.
• B) the quantity at which the marginal benefit equals the marginal cost.
• C) impossible to determine because each person's marginal benefit is different.
• D) the quantity at which the marginal benefit exceeds the marginal cost by as much as possible.
• E) the quantity determined by the intersection of the demand curve and the supply curve.

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Definitions:

Enzymes

Biological molecules that significantly speed up the rate of virtually all of the chemical reactions that take place within cells.

Magnesium

A chemical element with the symbol Mg, crucial for human health and various biological processes.

Iron

A chemical element with symbol Fe, known for its role in biological processes such as oxygen transport in hemoglobin and as a component of many enzymes.

Chlorine

A chemical element with symbol Cl and atomic number 17, a reactive halogen that is used as a disinfectant and in the manufacture of a wide range of products.