Applying the Concept of Opportunity Cost to the Pollution of a Lake

question 76

Multiple Choice

Applying the concept of opportunity cost to the pollution of a lake, an economist probably would conclude that:

• A) all pollution in the lake should be eliminated regardless of cost.
• B) no pollution in the lake should be eliminated regardless of benefit.
• C) pollution should be eliminated as long as the benefit from a cleanup exceeds the opportunity cost.
• D) pollution should be eliminated as long as the opportunity cost of a cleanup exceeds the cost of the resources required for the cleanup.

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Definitions:

Abolitionists

People who advocated for the immediate emancipation of slaves and the end of racial discrimination and segregation, primarily active during the 18th and 19th centuries.

Enslaved People

Individuals who are forcibly held in servitude and owned by others, often with their legal rights entirely stripped away, indicating a focus on the human aspect and experiences of those subjected to slavery.

Freed Slaves

Individuals who were once enslaved but gained freedom, either through legal means such as emancipation or by escaping from their enslavers.

Southern Economy

Refers to the economic structure and characteristics dominant in the Southern United States, historically characterized by agriculture and plantation systems.