The Total Value to Society of Having Garbage Removed Is

question 19

Multiple Choice

The total value to society of having garbage removed is greater than the value of baseball games.Why, then, are baseball players paid more than garbage collectors?

• A)Although the total value of garbage removal is greater than the total value of baseball, wages are determined by average values.
• B)Garbage removal results in significant external benefits that are not captured in the price paid for garbage removal. As a result, wages of garbage collectors do not reflect their social benefits.
• C)There is greater competition in the garbage collection industry than there is in Major League Baseball.
• D)Wages do not depend on total values but marginal values. The marginal revenue product of baseball players exceeds the marginal revenue product of garbage collectors.

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Definitions:

Good Samaritan

An individual who helps others in distress voluntarily without expecting any reward.

Pluralistic Ignorance

A phenomenon where a majority of group members privately reject a norm, but incorrectly assume that most others accept it, leading to a conformity that does not reflect actual agreement.

Coactor Continuation

This term does not refer to a specific, recognized concept within psychological or sociological academic literature; thus, its definition isn't established. If it suggests an idea within a particular context, it would likely pertain to the ongoing participation or involvement of collaborators in a process or activity.

Social Facilitation

The tendency for people to perform differently, typically better, when in the presence of others than when alone.