If the Marginal Benefit of One More Unit of a Public

question 113

Multiple Choice

If the marginal benefit of one more unit of a public good is $500 for Sam and $800 for Alex, the social benefit of one more unit of a public good is:

• A) $500 since the benefit will go to the person who values it least.
• B) $800 since the benefit will go to the person who values it most.
• C) $1,300 since the benefit of one more unit goes to both individuals.
• D) more than $1,300 since the benefits to society exceed the sum of individual benefits.

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Definitions:

Plant Transgenics

The field of genetically modifying plants to introduce new traits by transferring genes from one organism to another, including different species.

Plasmid

Small, circular, double-stranded DNA molecule that carries genes separate from those in the main DNA of a cell.

Genome-Wide Association Study

A method in genetics that examines associations between genetic variants and traits in organisms across the entire genome.

Transgenic Organism

A plant or animal that has foreign DNA incorporated into its genome.