(Table: Security in a Residential Community) the Table Security in a Residential

question 12

Multiple Choice

(Table: Security in a Residential Community) The table Security in a Residential Community shows the total cost of hiring a 24-hour security service in a community of 100 residents and each individual resident's total benefit from the service.The marginal cost of hiring the second security guard is ________, and the marginal social benefit is _.

• A)$150; $200
• B)$450; $1,800
• C)$150; $600
• D)$450; $600

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Definitions:

Labor Force

The aggregate count of individuals who are either engaged in work or are in pursuit of a job.

Education System

The network of public and private institutions that provide educational services from primary to higher education.

Productivity Increase

The improvement in the efficiency of production, often seen through a higher output of goods and services without an increase in input.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, significantly transforming economies with the introduction of machinery.