Figure: Market Failure (Figure: Market Failure) in the Figure

question 187

Multiple Choice

Figure: Market Failure (Figure: Market Failure) In the figure Market Failure, if production in this competitive market is at quantity F, then:

• A)marginal benefit is equal to marginal cost.
• B)marginal benefit is less than marginal cost.
• C)marginal benefit is greater than marginal cost.
• D)price is equal to marginal cost and greater than marginal benefit.

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Definitions:

Renin

Enzyme released by the kidneys that leads to the secretion of aldosterone and a rise in blood pressure.

Urethra

A duct through which urine is discharged from the bladder to the exterior of the body in both males and females, and through which semen is discharged in males.

Reproductive System

Organ system in humans that includes the sex-specific organs (testes, ovaries, etc.); produces and transports gametes; in females, nurtures and gives birth to offspring.

Endocrine

Pertaining to glands which secrete hormones or other products directly into the blood.