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question 76

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Use the following to answer questions: Use the following to answer questions:   -(Table: Coal Mine Pollution)  The table Coal Mine Pollution shows the marginal social benefit and cost of various amounts of pollution from a coal mine. If 2 tons of pollution is produced, the marginal social benefit is _____, and the marginal social cost is _____. A)  $600; $200 B)  $500; $300 C)  $400; $400 D)  $800; $0
-(Table: Coal Mine Pollution) The table Coal Mine Pollution shows the marginal social benefit and cost of various amounts of pollution from a coal mine. If 2 tons of pollution is produced, the marginal social benefit is _____, and the marginal social cost is _____.


Definitions:

Salaries

Payments made to employees, often annually, for their services to an organization or company.

Health Insurance

Insurance that usually covers the expenses associated with medical and surgical procedures, prescription medications, and at times, dental care for the person insured.

Avoiding Accidents

Strategies or practices implemented to reduce the likelihood of accidents occurring in various contexts, such as workplaces or roads.

Moral Hazard

The risk that one party to a transaction might change their behavior to the detriment of the other party after the transaction has taken place, particularly when the first party is protected from the consequences.

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