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Nidhi taparia Best Answer
The correct answer is (3). Dalton, one of the most famous public finance economists of all time, propounded the principle of public finance or principle of maximum social advantage. He said that total social advantage is maximised when the difference between total social benefit and total social sacrifice is maximised. And this happens when Marginal Social Benefit becomes equal to Marginal Social Sacrifice. This is just like what we studied in producer's theory. Firm's profit is maximised when MC = MR.