Refer to Scenario 16

question 259

Multiple Choice

Refer to Scenario 16.1 below to answer the question(s) that follow.
SCENARIO 16.1: The marginal benefit for a particular food is described by MB = 30 - q, where q refers to the quantity of the food. The marginal cost of producing the food is described by MC = 2q. There is a negative externality associated with food production and the marginal social cost of food production is MSC = 4q.
-Refer to Scenario 16.1. The efficient output level is ________ and the efficient price is ________.

• A) 10 units of food; $20
• B) 6 units of food; $24
• C) 0 units of food; $0
• D) 4.29 units of food; $25.71

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Definitions:

Networking

The practice of building, maintaining, and utilizing relationships, especially for professional or business purposes.

Absenteeism Rate

The frequency or rate at which employees are absent from work, typically expressed as a percentage of total working days.

Contingent

Dependent on or conditioned by something else; in organizational behavior, often refers to rewards or responses that are based on specific performance criteria.

Mintzberg

Refers to Henry Mintzberg, a renowned academic and author known for his work on business and management structures, strategy, and organizational effectiveness.