Suppose the Marginal Cost of the Fourth Unit of a Public

question 136

Multiple Choice

Suppose the marginal cost of the fourth unit of a public good is $20.If Mark and Judy are the only members of society,and they are willing to pay $10 and $11,respectively,for the fourth unit of the good,then the efficient quantity is

• A) 3 units.
• B) 4 or more units.
• C) 0 units.
• D) More information is needed about the marginal benefits of the first, second, and third units of the public good.
• E) None of the above answers is correct.

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Definitions:

Meatus

A meatus refers to a natural body passage or opening, such as the urinary meatus in the urethra or the nasal meatus in the nasal cavity.

Foramen

A natural opening or passage, especially in a bone, through which nerves or blood vessels may pass.

Yellow Bone Marrow

A type of bone marrow primarily composed of fat cells, which serves as a storage reserve of fats and contributes to energy supply.

Medullary Cavity

The central cavity of bone shafts where red bone marrow and/or yellow bone marrow (fat) is stored; it is found within the diaphysis of long bones.