The Marginal Benefit Curve of a Public Good Is Calculated

question 167

Multiple Choice

The marginal benefit curve of a public good is calculated by ________ individual marginal ________ curves.

• A) averaging; cost/benefit
• B) horizontally summing; cost
• C) averaging; benefit
• D) vertically summing; benefit
• E) horizontally summing; benefit

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Definitions:

Memory Loss

The unusual forgetfulness or inability to remember past events and information, often a symptom of neurological conditions.

Post Hoc, Ergo Propter Hoc

A logical fallacy that assumes a cause-and-effect relationship because one event follows another in time.

Labor Market

A marketplace where employers find workers and workers find jobs; the interaction determines wages, employment levels, and working conditions.

Inductive Reasoning

A method of reasoning in which specific observations or measurements are used to make general conclusions.