Table 10-2
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-Refer to Table 10-2

question 179

Multiple Choice

Table 10-2
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​
$$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Quantity } \\\text { (Units) }\end{array} & \begin{array} { c } \text { Private Value } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { Private Cost } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { Social Value } \\\text { (Dollars) }\end{array} \\\hline 1 & 51 & 45 & 57 \\\hline 2 & 48 & 48 & 54 \\\hline 3 & 45 & 51 & 51 \\\hline 4 & 42 & 54 & 48 \\\hline 5 & 39 & 57 & 45 \\\hline 6 & 36 & 60 & 42 \\\hline\end{array}$$ ​
-Refer to Table 10-2. What is the socially optimal level of output in this market?

• A)4 units
• B)2 units
• C)3 units
• D)5 units

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Definitions:

Scores

Values or measurements obtained from assessments, tests, or evaluations.

Variability

Refers to the extent to which data points in a statistical distribution or dataset differ from each other.

Range

The difference between the highest and lowest values in a set of data.

Interquartile Range

A measure of variability, defined as the difference between the upper (75th percentile) and lower (25th percentile) quartiles.