Figure: Negative Externalities and Raising Pigs for Pork

question 115

Multiple Choice

Figure: Negative Externalities and Raising Pigs for Pork (Figure: Negative Externalities and Raising Pigs for Pork) Refer to the figure Negative Externalities and Raising Pigs for Pork.If the marginal external cost of raising a pig for pork is $200, then the socially optimal quantity of pigs to raise is and
The socially optimal price is _.

• A)150; $900
• B)200; $800
• C)250; $700
• D)300; $800

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Definitions:

Basic and Applied Research

Fundamental scientific exploration aimed at gaining knowledge and understanding, and its practical application to solve specific problems, respectively.

Percentage

A proportion or share in relation to a whole, expressed as a fraction of 100.

Innovation

The process of creating new ideas, products, or methods, including the improvement of existing ones, to meet new requirements or market needs.

Product Innovation

The development of new or significantly improved goods or services to meet consumer needs or open new markets.