Marginal social cost, Managerial Economics

Suppose that there is a fixed sum of money available to be spent on public projects, and that a large number of public projects have been evaluated using social cost-benefit analysis.  Assume that all projects are continuously variable in size.  It follows that the budget should be allocated in a manner which ensures the marginal social benefit from the last dollar spent on each project should equal its marginal social cost.

Required:

Define Marginal Social Cost.

Posted Date: 2/19/2013 2:10:34 AM | Location : United States







Related Discussions:- Marginal social cost, Assignment Help, Ask Question on Marginal social cost, Get Answer, Expert's Help, Marginal social cost Discussions

Write discussion on Marginal social cost
Your posts are moderated
Related Questions
Search and Matching Model It  should  be  clear  to  you  fiom  the  earlier section  that  there  are  a  variety  of models under the rubric of  search theory.  In  this sec

Define the term forecasting As the term 'forecasting' may appear technical, planning for future is a critical aspect of managing any business or anorganisation.  The long-term

Measuring Point Elasticity on a Non-linear Demand Curve Let's now explain the method of measuring point elasticity on a non-linear demand curve. Assume we want to measure the

Provide two examples of identity economics other than those given in the article

Define the Managerial economics Managerial economics is thus a study of application of managerial skills in economics. It assists in determining, anticipating and resolving po

define scarcity and opportunity cost.Show how these concept are useful in managerial decision making

Two firms are engaged in Bertrand competition. Both firms have a stable marginal cost of €7. Presently, every firm is allocated half the market. There are 10,000 people in the popu

Factors affecting the total market demand These are broadly divided into the determinants of demand and conditions of demand. (a)      Own price of the product This

Supply-side policies Supply-side policies are intended to increase the economy's potential rate of output  by increasing the supply of factor inputs, such as labour inputs and

Real Rigidities The New Keynesian economists  rely both on nominal and real rigidities to  arrive at their conclusion that nominal changes in money  supply have real, and not