Author Question: Efficiency in the provision of a public good is achieved when its A) total social benefit equals ... (Read 38 times)

Arii_bell · **on:** Jun 29, 2018

Efficiency in the provision of a public good is achieved when its

A) total social benefit equals its total social cost.
B) average social benefit equals its average social cost.
C) marginal social benefit equals its marginal social cost.
D) marginal social benefit equals zero.

Question 2

In the figure above, Joe is producing at point A. Joe's opportunity cost of producing one shirt is

A) 5/3 of a pair of pants per shirt.
B) 3/5 of a pair of pants per shirt.
C) 5 pairs of pants per shirt.
D) 2 pairs of pants per shirt.