Table 10-3
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​ -Refer to Table 10-3

question 59

Multiple Choice

Table 10-3
​
​
$$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Quantity } \\\text { (Units) }\end{array} & \begin{array} { c } \text { Private Value } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { Private Cost } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { External Benefit } \\\text { (Dollars) }\end{array} \\\hline 1 & 22 & 12 & 10 \\\hline 2 & 20 & 15 & 10 \\\hline 3 & 18 & 18 & 10 \\\hline 4 & 16 & 21 & 10 \\\hline 5 & 14 & 24 & 10 \\\hline 6 & 12 & 27 & 10 \\\hline\end{array}$$
-Refer to Table 10-3. What amount of subsidy per unit of output would move the market from the equilibrium level of output to the socially optimal level of output?

• A)$2
• B)$3
• C)$5
• D)$10

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Definitions:

Ripeness

A legal principle that determines the readiness of a case for litigation, ensuring that a dispute has evolved enough to be resolved.

Pro-Se

Representing oneself in a legal proceeding without the assistance of a lawyer.

Cross-Examine

The questioning of a witness in a court of law by the party opposing the one who called the witness, aimed at assessing the veracity or credibility of their testimony.

Formal Rulemaking

A regulatory process that requires public notice, opportunity for comment, and a public hearing before a rule can be adopted, often involving a trial-like hearing.