The Marginal External Cost Per Unit of Effluent Discharged into a River

question 8

Multiple Choice

The marginal external cost per unit of effluent discharged into a river by a perfectly competitive chemical industry is currently estimated to be $50 per ton per year.Which of the following state?ments is true?

• A)Efficiency can be achieved with a $50 per ton annual effluent charge.
• B)At the competitive equilibrium output, the marginal social benefit of discharging effluent is $50.
• C)Efficiency can be achieved by banning discharge of effluent.
• D)At the efficient output, the marginal social benefit of discharging effluent will be zero.

Comprehend the relationship between gender, societal roles, and mental health.

Analyze the influence of research methodologies on our understanding of mental disorders.

Acknowledge the evolving nature of psychological perspectives on mental health, influenced by feminist critiques.

Recognize the biological, social, and psychological contributors to mental disorders.

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Definitions:

Rational Decisions

Decisions that are made based on logical reasoning from available information, aiming to maximize the outcome or benefit.

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses.

Dictator Game

A mutually anonymous behavioral economics game in which one person (“the dictator”) unilaterally determines how to split an amount of money with the second player.

Ultimatum Game

A behavioral economics game in which a mutually anonymous pair of players interact to determine how an amount of money is to be split. The first player suggests a division. The second player either accepts that proposal (in which case the split is made accordingly) or rejects it (in which case neither player gets anything).