When Farmers Raise Pigs, There Are a Number of External

question 74

Multiple Choice

When farmers raise pigs, there are a number of external costs.In particular, raising pigs generates methane gas.If the marginal external cost is $100 per pig and the government imposes a tax of $200 per pig, then at the equilibrium price and quantity of pigs:

• 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 social benefit.
• D)the price will be less than the marginal cost to pig farmers.

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Definitions:

Metaphysical Viewpoint

A perspective that deals with questions of existence, reality, and the nature of the universe beyond the physical or empirical.

Philosophers

Thinkers who engage in critical study, analysis, and the synthesis of ideas about fundamental questions like existence, knowledge, values, reason, mind, and language.

Frameworks

Frameworks refer to the essential structure and systematic arrangement of concepts, theories, or physical supports.

Western Metaphysics

A branch of philosophy that explores the fundamental nature of reality, including concepts such as existence, objects and their properties, space and time, cause and effect, and possibility.