No Individual Is Willing to Pay for the Efficient Quantity

question 201

Multiple Choice

No individual is willing to pay for the efficient quantity of a public good because the marginal benefit to an individual _____ the marginal social benefit.

• A)equals
• B)exceeds
• C)is less than
• D)may be equal to or greater than

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Definitions:

Sea Lamprey

An invasive, parasitic fish known for its detrital impact on native fish species in the Great Lakes and other fresh water environments.

Welland Canal

A ship canal in Canada, connecting Lake Ontario and Lake Erie, facilitating navigation and trade by bypassing Niagara Falls.

Ballast Water

Water carried in ships' ballast tanks to improve stability and balance, which, when discharged, can introduce invasive aquatic species to new environments.

Autonomy

The degree to which a job provides the employee with the freedom, independence, and discretion to schedule their work and determine how it is done.