-The Above Figure Shows the Marginal Private Cost Curve, Marginal

question 424

Multiple Choice

-The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for raising goats on a common pasture. A quota to prevent the overuse of the common pasture sets the number of goats to be raised equal to

• A) 0 goats.
• B) 40 goats.
• C) 50 goats.
• D) 55 goats.

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Definitions:

Population

A community of identical species inhabitants coexisting and mating in a particular region.

Decomposers

Organisms, primarily fungi and bacteria, that break down dead organic material, recycling nutrients back into the ecosystem.

Consumers

Organisms in an ecosystem that obtain energy by feeding on other organisms or organic matter, not capable of producing their own food.

Producers

Organisms, typically plants or algae, that produce organic compounds from simple substances present in their surroundings, usually through the process of photosynthesis.