A Government Is Considering Undertaking One or More Construction Projects

question 31

Multiple Choice

A government is considering undertaking one or more construction projects.The estimated marginal cost and benefit of each project are given in the table. Refer to the above table and information.What is the total cost and total benefit of projects 1,2,and 3?

• A) Total cost is $18 million and total benefit is $19 million.
• B) Total cost is $24 million and total benefit is $27 million.
• C) Total cost is $37 million and total benefit is $41 million.
• D) Total cost is $65 million and total benefit is $66 million.

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Definitions:

Concrete-Operational Thought

A stage in cognitive development, as theorized by Piaget, where children can think logically about concrete events.

Symbolic Function

The ability to use symbols, signs, or objects to represent something that is not physically present.

Preoperational Thought

A stage in Jean Piaget's theory of cognitive development, occurring roughly between the ages of 2 and 7, characterized by symbolic thinking, egocentrism, and a lack of logical operations.

Scribbles

The early forms of drawing and writing by young children, typically consisting of random lines and marks.