-Tom and Jerry Are the Only Members of Society

question 82

Multiple Choice

-Tom and Jerry are the only members of society. The table above shows their marginal benefits from defense satellites, a public good. What is the marginal benefit to society from the third satellite?

• A) $30
• B) $27
• C) $54
• D) $6

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Definitions:

Industrial Revolution

A period of major industrialization during the late 18th and early 19th centuries that transformed largely agrarian, manual societies into industrial and urban ones.

Economic Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Two-parent Families

Households where children live with both of their biological or adoptive parents, offering a family structure often associated with various social and economic advantages.

Single-parent Families

Households led by only one parent, who takes on the role of both caring for the children and providing for the family financially.