Refer to the information provided in Figure 16.2 below to answer the question(s) that follow. Figure 16.2
-Refer to Figure 16.2. The ________ imposed as a result of producing the market (unregulated) level of cars is $350.
A) marginal social cost
B) total damage
C) marginal private cost
D) marginal social benefit

Question

Refer to the information provided in Figure 16.2 below to answer the question(s) that follow.  Figure 16.2
-Refer to Figure 16.2. The ________ imposed as a result of producing the market (unregulated) level of cars is $350.
A) marginal social cost 
B) total damage 
C) marginal private cost 
D) marginal social benefit

Quizplus · Accepted Answer

The correct answer is "total damage" because the cost imposed as a result of producing the market (unregulated) level of cars refers to the external costs or damages not accounted for in the market price, which is typically referred to as total damage in environmental economics.

Refer to the Information Provided in Figure 16