Use the Table Below to Answer the Following Questions

question 32

Multiple Choice

Use the table below to answer the following questions.
Table 16.3.1

-Refer to Table 16.3.1.The table shows marginal private benefit and the marginal social benefit from the consumption of chemical fertilizer and the marginal social cost of the production of fertilizer.If production is left to the private market,then

• A)an efficient quantity is produced.
• B)imposing a tax leads to production of the efficient quantity.
• C)too much fertilizer is produced.
• D)a system of marketable permits leads to production of the efficient quantity.
• E)an inefficient quantity is produced.

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Definitions:

Acquisitive Stage

According to Schaie, the first stage of cognitive development, encompassing all of childhood and adolescence, in which the main developmental task is to acquire information.

Cognitive Development

The process of growth and change in intellectual/mental abilities such as thinking, reasoning, and understanding across the lifespan.

K.Warner Schaie

A psychologist known for his work on adult cognitive development, particularly the stages of cognitive change that adults undergo as they age.

Culturally Limited

A situation or condition where the applicability or relevance of something is confined or restricted to specific cultural contexts.