Use the Following to Answer Questions

question 166

Multiple Choice

Use the following to answer questions :
Scenario: Ben and Nik
Ben and Nik are the only members of a community.They have revealed the marginal private benefits they each receive from a public good whose marginal social benefit is known.In addition,the marginal social cost (MSC) of the public good is known and is constant.
-(Scenario: Ben and Nik) Use Scenario: Ben and Nik.At Q₂ in the figure,the marginal social benefit from the last unit of the public good is:

• A) equal to the marginal social cost.
• B) equal to P₄ + P₃.
• C) the optimal level of provision of the public good.
• D) zero for Nik.

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Definitions:

Gene Expression

The process by which the instructions in our DNA are converted into a functional product, such as a protein.

Schizophrenia

An ailment of the mind that involves abnormalities in the way one thinks, perceives the world, responds emotionally, and interacts socially.

Epigenetics

Analysis focusing on the ramifications of gene expression adjustments on organisms without making changes to the genetic sequence.

Identical Twins

Twins who develop from a single fertilized egg, sharing 100% of their genetic material, leading to similar physical appearances and often, but not always, similar traits.