A Government Is Considering Undertaking One or More Construction Projects

question 89

Multiple Choice

A government is considering undertaking one or more construction projects. The estimated marginal costs and benefits 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:

Normative Life Events

In the timing-of-events model, commonly expected life experiences that occur at customary times.

Social Clocks

Societal expectations regarding the appropriate timing for major life milestones, such as education, marriage, parenthood, and retirement.

Society's Expectations

The norms, values, and roles that a community anticipates its members to adhere to.

College Graduate

An individual who has successfully completed a program of study at a college or university and has received a degree.