A City Has Been Trying to Control Its Rat Population

question 118

Multiple Choice

A city has been trying to control its rat population by poisoning them.This kills up to 50 percent of the population, but the remaining rats then reproduce more rapidly, rebuilding the population.Given this response, a more effective method of rat control might be to

• A) set rat traps around garbage bins.
• B) poison a larger percentage of the rats.
• C) increase the city's population of feral cats.
• D) let the rat population reach its carrying capacity.
• E) drastically reduce the amount of garbage available for food.

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Definitions:

Marginal Cost

The cost added by producing one additional unit of a product or service, an important concept in economics for determining the optimal level of production.

Monopolist

A single firm or entity that is the exclusive provider of a good or service, thus controlling its market price.

Lerner Indices

Measures of a firm’s market power based on the difference between price and marginal cost, normalized by the product's price.

Marginal Cost

The increase or decrease in the total cost incurred by producing one more unit of a good or service.