Based on the Type of Analysis Described in the Case

question 12

Multiple Choice

Based on the type of analysis described in the Case in Point on Preventing Oil Spills, an economist might reasonably argue that too few people die in airplane crashes if:

• A) the marginal cost of preventing airplane crashes was less than the marginal benefit of preventing them.
• B) the marginal benefit of preventing airplane crashes was less than the marginal cost of preventing them.
• C) he or she were nuts; no reasonable economist would make such a statement because even though zero airplane crashes are an unlikely outcome, the efforts to prevent them to the greatest extent possible are justified because human lives are at stake.
• D) both A and B are true.

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Definitions:

Environmental Activists

Individuals or groups who actively promote the protection of the environment and advocate for policies or practices that minimize harm to natural ecosystems.

Tragedy Of The Commons

A situation in which individuals act in their own interest and deplete shared resources, leading to long-term collective loss.

Common Good

This concept refers to shared benefits or interests that are advantageous for all members of a given community or society.

Sustainable Farming

Agricultural practices that aim to meet current food and textile needs without compromising the ability of future generations to meet their needs.