Match the following and select the correct answer from options given below :
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List – 1 |
List – 2 |
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|
i. |
Increase in rupee value of harm caused by 1 unit increase in output |
1. |
private marginal benefit |
|
ii. |
Benefit received by society when 1 additional unit of good is produced and consumed |
2. |
social marginal benefit |
|
iii. |
Revenue benefits for the firm for sale of additional unit produced |
3. |
private marginal cost |
|
iv. |
Hiring more labour and purchasing more raw materials to produce 1 more unit of good |
4. |
marginal damage |
1
i – 1; ii – 2; iii – 3 and iv – 4
2
i – 2; ii – 1; iii – 4 and iv – 3
3
i – 4; ii – 2; iii – 1 and iv – 3
4
i – 4; ii – 3; iii – 2 and iv – 1