Private Incentives in Markets with External Benefits Lead to _____;Private

question 2

Multiple Choice

Private incentives in markets with external benefits lead to _____;private incentives in markets with external costs lead to _____.

• A) maximum total economic surplus;deadweight loss
• B) deadweight loss;deadweight loss
• C) excess total economic surplus;efficiency
• D) excess total economic surplus;deadweight loss
• E) minimum total economic surplus;efficiency

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Definitions:

Corpus Callosum

A thick band of nerve fibers that divides the cerebral cortex lobes into left and right hemispheres, facilitating communication between the two sides of the brain.

Roger Sperry

A neuropsychologist and neurobiologist who was awarded the Nobel Prize for his work on the split-brain research which advanced our understanding of the functional specialization of the cerebral hemispheres.

Epilepsy

A neurological disorder marked by sudden recurrent episodes of sensory disturbance, loss of consciousness, or convulsions, associated with abnormal electrical activity in the brain.

Somatosensory Cortex

A part of the brain that processes sensory input from various parts of the body, including touch, temperature, and pain.