At the optimal quantity of a public good:A. marginal benefit exceeds marginal cost by the greatest amount.B. total benefit equals total cost.C. marginal benefit equals marginal cost.D. marginal benefit is zer

A person should consume that precise amount of something when its marginal (1 Point)cost is less than its marginal benefit.benefit equals its marginal cost.benefit is positive.cost exceeds its marginal benefit.

When externalities are present, the socially optimal outcome occurs where the _____ benefit equals the _____ cost.Question 3Answera.marginal external; marginal externalb.marginal social; marginal socialc.total social; total sociald.total external; total external

The optimal level of economic activity occurs when:Multiple choice question.the total benefit equals the total cost.the marginal benefit equals the total cost.the marginal benefit equals the marginal cost.the total benefit equals the marginal cost.

Which of the following is true of the marginal cost of providing a pure public good to one more consumer? aIt is positive. bIt is equal to the original cost of the good. cIt decreases as the number of consumers increases. dIt is equal to zero.

A company conducting business in a monopolistically competitive market will most likely maximise profits when its output quantity is set such that ______.Average cost is minimised.Marginal revenue equals average cost.Marginal revenue equals marginal cost.