Following Questions Are Based on the Following Information

question 97

Multiple Choice

Following Questions are based on the following information.
In a small city located on a lake,the raw sewage of the city is dumped directly into the lakE.This has been a source of distress for citizens who like to swim,fish,and water ski.A study has been instituted to determine what value the citizens place on pollution control,and the results are listed in the following tablE.Costs of pollution control are also listed.

-The economically efficient level of pollution control is

• A)10 units
• B)9 units
• C)8 units
• D)4 units
• E)2 units

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Definitions:

Substantial Performance

A legal concept indicating that a party has fulfilled enough of its contractual obligations to warrant payment, even if some minor specifications are not met.

Doctrine

A doctrine is a set of principles or beliefs, especially in legal contexts, establishing a particular rule of law or policy guidance.

Good Faith

The principle of honesty and sincerity in dealings and transactions, free of intent to deceive or defraud.

Complete Performance

The full and exact fulfilment of contractual obligations or tasks as agreed.