Which Merit Good Is Likely to Be Under Consumed When

question 2

Multiple Choice

Which merit good is likely to be under consumed when left to the market mechanism?

• A) tobacco
• B) alcohol
• C) education
• D) heroin

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Definitions:

Bt Crops

Genetically modified crops that express toxins from the bacterium Bacillus thuringiensis, which are lethal to certain insect pests.

Pesticide-Resistant

Refers to organisms that have developed the ability to survive exposure to pesticides that would normally be lethal.

Insect Populations

Groups of insects living in a specified area, which can be studied in terms of their size, density, and dynamics, including changes due to environmental factors or human activities.

RNA Interference

A biological mechanism where RNA molecules block or suppress gene expression or translation by neutralizing specific mRNA molecules.