Read the Following Scenario and Answer the Question Below

question 9

Multiple Choice

Read the following scenario and answer the question below.
In Johannesburg, South Africa, the South West Township (Soweto) was one of several areas established early in the last century for blacks to live away from the white ruling minority. On the hills surrounding Soweto, the company that provides South Africaʹs electricity, Eskom, built a large, coal-burning, electricity-generating plant. The electricity was for white areas of Johannesburg, miles away from the plant. The residents of Soweto had no electrical connections.
-The heavy levels of soot from the electrical plant upwind of Soweto, along with dust from gigantic mine dumps from gold and coal mines, created particulate pollution more than three times the recommended level. This resulted in ________________.

• A) problems with running local automobiles and other machinery
• B) increased incidence of lung disease
• C) high levels of heart disease
• D) enriched agricultural fields and increased crop yields
• E) high levels of birth defects

Understand the role of endowments and budget constraints in consumer choices.

Analyze the concept of inferior goods and its implications on demand and labor supply.

Understand how changes in wages and nonlabor income affect labor supply when leisure is considered a normal good.

Comprehend the utility maximization principle and its application to consumption and labor choices.

---

Definitions:

Single-Step

A method of preparing the income statement where all revenues are summarized together and all expenses are summarized together, with a single step to determine net income.

Income Statement

A financial report that shows the company's revenues, expenses, and profits over a specific period of time.

Sales Revenues

The total income a business receives from selling goods or services before any expenses are deducted.

Cash Collected

The total amount of money received by a company, typically over a specific period, including revenues from sales, investments, and financing activities.