The Total Weight of Bags Placed on an Aircraft Is

question 5

Multiple Choice

The total weight of bags placed on an aircraft is 2730kg. You know that the average weight of each bag is 13.0kg. Assuming every passenger has a bag, how many passengers are there on the plane?

• A) 200
• B) 210
• C) 220
• D) 230

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Definitions:

Marginal Benefit

Marginal benefit is the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.

Social Cost

The total cost to society, including both private costs borne by the producer and external costs borne by others, of producing a good or service.

Perfectly Competitive

A market structure characterized by a large number of buyers and sellers, all selling identical products, with no single entity able to influence the market price.

Externalities

Costs or benefits that affect a party who did not choose to incur that cost or benefit, often leading to market failure if not corrected by government intervention.