Use the Following to Answer Question

question 193

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.If 1 acre is dedicated to the park,the park is _____ from a social perspective.

• A)too large
• B)the socially optimum size
• C)too small
• D)the efficient size

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Definitions:

Quick Response

A strategy or system designed to rapidly fulfill customer orders, often used in manufacturing and retail to improve service levels.

Strategic Decision

A choice made by a company's top management about the direction and scope of the organization, often having long-term effects.

Layout Design

Layout Design refers to the arrangement of physical facilities such as machinery, equipment, and furniture within a workspace to optimize workflow and productivity.

Maintenance

The activities involved in keeping a system’s equipment in working order.