Use the Following to Answer Questions

question 1

Multiple Choice

Use the following to answer questions:
Figure: Efficiency and Pollution
-(Figure: Efficiency and Pollution) Look at the figure Efficiency and Pollution. If this market produced _____ tons of pollution, then _____.

• A) 30; it would be efficient
• B) 45; marginal social cost would be less than marginal social benefit
• C) 20; marginal social benefit would be less than marginal social cost
• D) 20; the marginal social benefit would be $7.

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Definitions:

Expert Power

Influence based on the perception that someone has valuable knowledge or skills in a particular area.

Leadership

The act of guiding or influencing a group towards achieving its goals.

Job Skill

A specific ability or expertise that is required to perform particular tasks in the workplace.

Communicate Well

The ability to convey information, ideas, or feelings clearly and effectively through various forms of communication.