Use the Table Below to Answer the Following Questions

question 23

Multiple Choice

Use the table below to answer the following questions.
Table 16.2.2
Chemical Fertilizer Market

-Refer to Table 16.2.2. Fertilizer has a marginal

• A)external cost of $100 a tonne.
• B)social cost of $100 a tonne.
• C)external cost of $30 a tonne.
• D)private cost of $30 a tonne.
• E)external cost of $0.

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Definitions:

American Culture

Refers to the customs, arts, social institutions, and achievements of the United States.

Capitalistic System

An economic system where private individuals or businesses own capital goods and the production of goods and services is based on supply and demand in the market.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on free market economics, as described in his book "The Wealth of Nations."

Economic Motivation

The driving forces behind economic activities, including incentives and desires that influence the economic decisions of individuals or organizations.