To Achieve the Efficient Amount of Use of a Common

question 123

Multiple Choice

To achieve the efficient amount of use of a common resource,the use should be such that ________ equals ________.

• A) marginal social cost; marginal private cost
• B) marginal social cost; marginal social benefit
• C) marginal private benefit; marginal cost
• D) marginal cost; marginal benefit
• E) marginal social benefit; marginal private cost

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Definitions:

Supplies Used

This term refers to the amount of supplies that have been consumed or utilized during a specific period in business operations.

Adjustment

A modification made to rectify the balance of an account, to reflect accrued expenses or revenues, or to correct errors.

Balance Sheet

An accounting summary showing the assets, liabilities, and owner's equity of a company on a given date.

Retainer Fee

A payment made in advance to hire or retain professional services, ensuring availability over a specific period.