In the Absence O5f Government Interference, There Is a Constant

question 24

Multiple Choice

in the absence o5f 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 .50 and the fine if a shipper caught is $40 per ounce, then the equilibrium price of marijuana per ounce is

• A)$50.
• B)$2.50.
• C)$25.
• D)$45.
• E)$7.50.

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Definitions:

Transactional

Relating to the conduct of business, or a specific interaction involving the exchange of goods, services, or funds.

Non-specific Response

A general reaction by an organism to a stressor that is not tailored to a specific threat or context.

Perception

The process of organizing and interpreting sensory information to make it meaningful.

Environmental Stimuli

External factors or changes in the environment that can elicit responses from living organisms.