Use the Following to Answer Question

question 86

Multiple Choice

Use the following to answer question:
Figure: Efficiency and Pollution
-(Figure: Efficiency and Pollution) Use Figure: Efficiency and Pollution.Assume that firms are the only beneficiaries of pollution and that costs are borne solely by others in the society.If the government imposed an environmental standard that did NOT allow the quantity of pollution to exceed 40 tons,there would be:

• A)a socially optimal quantity of pollution.
• B)too little pollution because its marginal social benefit would exceed its marginal social cost.
• C)too much pollution because its marginal social cost would exceed its marginal social benefit.
• D)too much pollution because any pollution is too much from an economist's perspective.

Describe the legal framework surrounding credit reporting, including consumer rights to access and dispute credit information.

Identify the legal requirements and prohibitions in telemarketing and the enforcement of the National Do Not Call Registry.

Understand the protections against unfair debt collection practices.

Describe the provisions related to unsolicited merchandise and credit card liabilities.

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Definitions:

Cohesive Group

A social group that is united, working together well, and has strong bonds among its members, leading to higher group morale.

Door-In-The-Face Technique

A strategy in which someone makes a large, unreasonable request with the expectation that the person will refuse but will then be more likely to respond favorably to a smaller request later.

Foot-In-The-Door Effect

A psychological phenomenon where agreeing to a small initial request increases the likelihood of agreeing to a larger request later.

Door-In-The-Face Technique

A persuasion strategy whereby a larger, less achievable request is made first, followed by a smaller, more reasonable request.