-The Above Figure Shows the Marginal Private Cost Curve, Marginal

question 287

Multiple Choice

-The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for raising goats on a common pasture. The market equilibrium with no government intervention is raising

• A) 0 goats.
• B) 40 goats.
• C) 50 goats.
• D) 55 goats.

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Definitions:

Reliability

The level of consistency and stability in the results produced by an assessment instrument across time.

Validity

The extent to which a test accurately measures what it is intended to measure.

Correlation

A statistical measure that describes the extent to which two variables change together, but does not necessarily imply causation.

Discriminant Validity

The extent to which a test or experiment measures different constructs, demonstrating that the scales do not correlate too highly with measures from which they should differ.