Use the Following to Answer Questions

question 131

Multiple Choice

Use the following to answer questions:
-(Table: Marginal Benefit from Additional Streetlights) Look at the table Marginal Benefit from Additional Streetlights. Suppose that the marginal cost of installing a streetlight is $6. What is the socially optimal number of streetlights in the neighborhood?

• A) 1
• B) 2
• C) 3
• D) 4

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Definitions:

Social Norms

Rules that a group uses for appropriate and inappropriate values, beliefs, attitudes, and behaviors.

Internal Change

Describes a transformation or shift that occurs within an entity, individual, or system, affecting its inherent traits or operations.

Observable Behaviour

Actions or reactions that are visible and can be seen or measured directly, often used in the study of psychology and behavior analysis.

Expert Power

The influence and authority someone possesses due to their expertise, skills, or knowledge in a particular area.