If the marginal benefit received from consuming a good is less than the marginal cost of production:
A)society's well-being can be improved if production increases.
B)society's well-being can be improved if production decreases.
C)society's well-being cannot be improved by changing production.
D)the market is producing too little of the good.

Question

Quizplus · Accepted Answer

If the marginal benefit received from consuming a good is less than the marginal cost of production, it means that producing more of the good would result in a net loss for society. Therefore, society's well-being can be improved if production decreases.

If the Marginal Benefit Received from Consuming a Good Is