If Producing a Good or a Service Creates Pollution,then

question 236

Multiple Choice

If producing a good or a service creates pollution,then

• A) an unregulated competitive market produces an efficient output.
• B) the industry's supply curve includes the extra cost of pollution.
• C) at the unregulated, competitive market equilibrium quantity, marginal social cost is greater than the equilibrium price.
• D) at the unregulated, competitive market equilibrium quantity, marginal social benefit and marginal social cost are equal.
• E) at the unregulated, competitive market equilibrium quantity, marginal social benefit is less than the equilibrium price.

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Definitions:

Tight Quality Control

Rigorous and stringent monitoring and verification of products or services to meet specified quality standards.

Information Technology

The study or use of systems (computers and telecommunications) for storing, retrieving, and sending information, playing a critical role in modern organizations.

Physical Process

A sequence of operations or activities that involve physical transformations or manipulations of materials or components.

Mass Customization

Mass customization is a manufacturing technique that combines the flexibility and personalization of custom-made products with the low unit costs associated with mass production.