Use the Following to Answer Question

question 155

Multiple Choice

Use the following to answer question:
-(Table: Externalities from Parks) Use: Table: Externalities from Parks.The table shows the marginal social benefit and the marginal social cost of preserving various amounts of land in a city for a public park.Suppose that parks result in positive benefits to the community as a whole but that the marginal private benefit that any one individual in the community gets from parks is close to 0.At the socially optimum amount of land dedicated to the public park,the marginal social cost will be:

• A)$225.
• B)$150.
• C)$100.
• D)$0.

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Definitions:

Indicator Variables

Variables used in statistical models that take a value of 1 to indicate the presence of a particular condition or characteristic and 0 to indicate the absence.

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Seasonal Index

A measure used in time series analysis to adjust for seasonal variation in data, often applied to forecast and analyze patterns that repeat over a standard cycle, such as a year.

Regression Analysis

A statistical method used for estimating the relationships among variables, often for predicting a dependent variable from one or more independent variables.