In the Absence of Government Interference, There Is a Constant

question 26

Multiple Choice

in the absence of government interference, there is a constant marginal cost of $5 per ounce for growing marijuana and delivering it to buyers.If the probability that any shipment of marijuana seized is .10 and the fine if a shipper caught is $20 per ounce, then the equilibrium price of marijuana per ounce is

• A)$25.
• B)$4.50.
• C)$7.78.
• D)$7.
• E)$5.50.

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Definitions:

Job Design

The process of organizing tasks, duties, and responsibilities into a productive unit of work.

Technocentric Approach

A philosophy that centers on technology and its ability to control and protect the environment.

Biological Approach

A perspective in psychology that examines behavioral and mental processes through the lens of biological processes, including genetics and neuroscience.

Physical Exertion

The level of effort and energy expended in physical activities, often associated with work or exercise.