You Have Entered a 5K Race

question 137

Multiple Choice

You have entered a 5K race. As you finish the last 50 yards, you are breathing harder than at the start of the race and sweating profusely. This is an example of the _____ law of thermodynamics because _____ is increasing.

• A)first; entropy
• B)second; entropy
• C)first; body temperature
• D)second; body temperature
• E)None of the other answer options is correct.

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Definitions:

No Externality

A situation where private costs or benefits are equal to social costs or benefits, with no spillover effects on third parties.

Market

An arrangement or venue where parties engage in exchange of goods and services.

Positive Externality

A benefit that is enjoyed by a third-party as a result of an economic transaction or activity in which they did not directly participate.

Marginal Social Benefit

The additional benefit to society from consuming one more unit of a good or service.