For a Common Resource,the Marginal Private Benefit of the Resource

question 28

Multiple Choice

For a common resource,the marginal private benefit of the resource is

• A) greater than the marginal social benefit.
• B) equal to the marginal social benefit.
• C) less than the marginal social benefit.
• D) not comparable to the marginal social benefit.
• E) not defined because the resource is nonexcludable.

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Definitions:

Soybeans

A species of legume native to East Asia, widely grown for its edible bean which has numerous uses.

Opportunity Cost

The value of the best alternative foregone when a decision is made to choose one option over others.

Soybeans

A leguminous plant from East Asia, extensively cultivated for its consumable beans that serve in a multitude of edible goods and as a source for oil.

Alfalfa

A perennial flowering plant widely cultivated as fodder for livestock due to its high nutrient content.