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Use the following to answer questions: Use the following to answer questions:   -(Table: Externalities from Parks)  The table Externalities from Parks shows the marginal social benefit and the marginal social cost of preserving various amounts of land in a city for a public park. If the government wants to achieve the optimum amount of land for the park, it could use a Pigouvian _____ of _____. A)  tax; $300 B)  tax; $150 C)  subsidy; $150 D)  subsidy; $450
-(Table: Externalities from Parks) The table Externalities from Parks shows the marginal social benefit and the marginal social cost of preserving various amounts of land in a city for a public park. If the government wants to achieve the optimum amount of land for the park, it could use a Pigouvian _____ of _____.


Definitions:

Duty

An obligation or responsibility imposed by law, moral guidelines, or codes of conduct that requires a person or entity to act or refrain from acting in a certain way.

Assignable

Capable of being transferred from one party to another, typically referring to rights or property.

Delegating Duties

The process of assigning responsibility and authority to another person to carry out specific activities, while the original person remains accountable for the outcome.

Famous Tenor

A famous tenor is a celebrated male singer with a high voice range known for his performances in operas and concerts.

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