​Noxious, Inc

question 62

Multiple Choice

​Noxious, Inc., makes and sells pesticides. If a substance is identified as harmful and the harm is imminent, the Environmental Protection Agency can

• A) ​conduct an inspection of Noxious's plant.
• B) ​declare the substance to be unregulated and allow its production.
• C) ​ignore the risk if the benefit outweighs the harm.
• D) ​order the substance to be sold in an adulterated form.

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Definitions:

Single Factor

A term in economics and production referring to the focus on one variable or input while analyzing its impact on an output or outcome.

Opportunity Cost

The consequence of choosing a specific option is the preclusion of potential rewards from other possibilities.

Pint

A unit of volume or capacity used in liquid measure, equal to one-half of a quart or approximately 473 milliliters in the United States.

Marginal Cost

The incremental cost of manufacturing one more unit of a product or service.