The Marginal Benefit of Reducing Pollution and the Marginal Cost

question 51

Multiple Choice

The marginal benefit of reducing pollution and the marginal cost of reducing pollution are given by the following equations: MB = - 2U2 + 18, and MC = 2U2 + 2, where U is the number of units of pollution abatement. What is the net marginal benefit (MB - MC) of abating the first unit of pollution (U = 1) ?

• A) 12
• B) 10
• C) 14
• D) 16
• E) 18

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Definitions:

Concrete Operational Thought

A stage in cognitive development, described by Piaget, where children aged 7-12 start to think logically about concrete events.

Sensorimotor Thought

refers to the stage in early childhood cognitive development where learning occurs through sensory experiences and manipulating objects.

Preoperational Thought

A stage in Piaget's theory of cognitive development where children from about 2 to 7 years old demonstrate symbolic thinking but not yet using cognitive operations like logic.

Metacognition

The awareness and understanding of one's own thought processes, often referred to as "thinking about thinking."