A Person's Willingness to Pay for a Good Is Based

question 199

Multiple Choice

A person's willingness to pay for a good is based on

• A)the availability of the good.
• B)the marginal benefit that an extra unit of the good would provide for that person.
• C)the marginal cost of producing an extra unit of the good.
• D)esoteric factors, the study of which lies beyond the boundaries of economics.

---

Definitions:

Hazardous Waste

Wastes that are dangerous or potentially harmful to public health or the environment.

Shipments

The act of transporting goods from one place to another, often commercially.

Past Disposal Sites

Locations that have been used for the disposal of waste materials in the past, which may be subject to environmental cleanup or regulation.

Federal Insecticide, Fungicide, and Rodenticide Act

A United States federal law that sets up the basic framework for pesticide regulation to protect applicators, consumers, and the environment.