Table 10-3
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​ -Refer to Table 10-3

question 92

Multiple Choice

Table 10-3
​
​
$$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Quantity } \\\text { (Units) }\end{array} & \begin{array} { c } \text { Private Value } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { Private Cost } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { External Benefit } \\\text { (Dollars) }\end{array} \\\hline 1 & 22 & 12 & 10 \\\hline 2 & 20 & 15 & 10 \\\hline 3 & 18 & 18 & 10 \\\hline 4 & 16 & 21 & 10 \\\hline 5 & 14 & 24 & 10 \\\hline 6 & 12 & 27 & 10 \\\hline\end{array}$$
-Refer to Table 10-3. The socially optimal quantity of output is

• A)3 units.
• B)4 units.
• C)5 units.
• D)6 units.

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Definitions:

Gender Biased

Prejudice or favoritism towards one gender over another, often resulting in unfair treatment or discrimination.

Correlation Coefficient

A statistical measure that indicates the extent to which two or more variables fluctuate together, signifying the strength and direction of their relationship.

The Mean

A statistical measure representing the average value in a set of numbers, calculated by dividing the sum of all values by the number of values.

The Median

A statistical measure representing the middle value in a given set of numbers, where half the numbers are above and half are below this value.