Use the Table Below to Answer the Following Questions

question 21

Multiple Choice

Use the table below to answer the following questions.
Table 16.3.1

-Refer to Table 16.3.1. The table shows marginal private benefit and the marginal social benefit from the consumption of chemical fertilizer and the marginal social cost of the production of fertilizer. If production is left to the private market, the market price is

• A)$70 a unit.
• B)$60 a unit.
• C)$50 a unit.
• D)$40 a unit.
• E)$30 a unit.

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Definitions:

Trade Restrictions

Measures applied by governments to control the exchange of goods and services across its borders, including tariffs, quotas, and embargoes.

International Commerce

The trade of goods, services, and capital across international borders or territories.

Capital Planning

The process of budgeting resources for the acquisition and investment of long-term assets and other financial decisions to achieve strategic goals.