When the Marginal Private Cost of an Activity Does Not

question 127

Multiple Choice

When the marginal private cost of an activity does not equal the marginal social cost,which of the following exists?

• A)Positive externality
• B)Negative externality
• C)Externality in consumption
• D)Externality in production
• E)External cost

Identify the ethical considerations in psychological research and practice.

Recognize the theoretical diversity within psychology and its implications for understanding behavior and mental processes.

Understand the methods and tools used by scientists in psychology, including theories and empirical observation.

Identify the different specializations within psychology and their focus areas.

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Definitions:

On/Off Control

A simple form of control using binary signals to activate or deactivate devices, without intermediate states.

Measured Variable

A specific quantity or condition that is monitored and measured in a process, such as temperature, pressure, or flow rate.

Set Point

The desired or target value for a controlled variable in a control system, against which actual values are compared to determine the need for corrective action.

Proportioning Action

A control method where the output is adjusted in proportion to the difference between the actual value and a setpoint.