When Farmers Raise Pigs, There Are a Number of External

question 68

Multiple Choice

When farmers raise pigs, there are a number of external costs.In particular, raising pigs generates methane gas.Without government regulation, the equilibrium price and quantity of pigs raised means that:

• A)too few pigs will be raised.
• B)the price will be less than the marginal social cost.
• C)the price will be less than the marginal benefit.
• D)the price will be less than the marginal cost to pig farmers.

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Definitions:

Neurons

The basic working units of the brain, specialized cells designed to transmit information to other nerve cells, muscle, or gland cells.

Signal-Detection Experiment

A methodology in psychology that measures the ability to differentiate between information-bearing patterns and random patterns that distract from the information.

False Alarms

Instances in signal detection when a non-target stimulus is incorrectly identified as a target, leading to erroneous responses.

Hits

A term that often refers to the popularity or success of something, such as a website visit, song downloads, or the number of times a piece of information is accessed.