University Researchers Create a Positive Externality Because What They Discover

question 162

Multiple Choice

University researchers create a positive externality because what they discover in their research labs can easily be learned by others who haven't contributed to the research costs. If there are no subsidies, what is the relationship between the equilibrium quantity of university research and the optimal quantity of university research produced?

• A)They are equal.
• B)The equilibrium quantity is greater than the socially optimal quantity.
• C)The equilibrium quantity is less than the socially optimal quantity.
• D)There is not enough information to answer the question.

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Definitions:

Cognitive Neuroscience

An interdisciplinary field of research focused on understanding the neurological basis of mental processes and how the brain enables the mind.

MRI

Magnetic Resonance Imaging, a medical imaging technique used in radiology to form pictures of the anatomy and the physiological processes of the body.

Psychiatric Social Workers

Are professionals who provide mental health services focusing on the social aspects of patient care, including counseling, advocacy, and connecting individuals with community resources.

M.D.

An abbreviation for Doctor of Medicine, a degree awarded to physicians following the completion of their medical school education.