Use the Table Below to Answer the Following Questions

question 111

Multiple Choice

Use the table below to answer the following questions.
Table 16.3.1

-Refer to Table 16.3.1. The table shows marginal private benefit and the marginal social benefit from the consumption of chemical fertilizer and the marginal social cost of the production of fertilizer. If production is left to the private market, then at the profit-maximizing output level, marginal

• A)social cost equals marginal private benefit.
• B)private cost is less than marginal private benefit.
• C)social cost is less than marginal private benefit.
• D)social cost is greater than marginal private benefit.
• E)social benefit is less than marginal private benefit.

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Definitions:

Foot-in-the-Door Technique

A persuasive strategy where a small request is made first, with the aim of making the person more likely to agree to a larger request later.

Door-in-the-Face Technique

A persuasion strategy where an initial, large request is made knowing it will be refused, followed by a smaller request, which is actually the desired outcome, making the second request seem more reasonable.

Political Office

denotes a position of authority or service in the government or related organization, held by an individual.

Balance Theory

A theory in social psychology suggesting that people strive for balance in their relationships and beliefs for cognitive consistency.