Use the Following to Answer Questions

question 49

Multiple Choice

Use the following to answer questions :
Scenario: Private and External Benefits
A small community finds that tidy lawns and neighbourhoods provide both private and external benefits.They determine that the marginal private benefit (MPB) of lawns can be represented by the equation MPB = 50 - 0.5Q,where Q is the number of hours spent on keeping lawns tidy.The marginal private cost (MPC) of such lawn upkeep is represented by the equation MPC = 0.5Q,where Q is again the number of hours engaged in lawn upkeep.
-(Scenario: Private and External Benefits) Use Scenario: Private and External Benefits.How many hours of lawn upkeep will occur in this community,and what will be the marginal private benefit of such upkeep?

• A) 50 hours and $50
• B) 45 hours and $20
• C) 50 hours and $25
• D) 100 hours and $50

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Definitions:

Social Behavior

Actions among individuals that are influenced by, and impact, the social environment, including cooperation, competition, and aggression.

Field Experiments

Research studies conducted in natural setting rather than in a lab, allowing more generalizable findings.

Laboratory Experiments

Controlled tests or investigations conducted in a structured environment where variables can be manipulated and outcomes measured.

External Validity

The extent to which it is possible to generalize the results of one study to other populations, settings, or times.