Refer to the above figure. From the standpoint of society, the optimal price is

Optimization in levels calculates:

A) only the costs of an alternative and not the benefits. B) the total net benefits of different alternatives. C) the change in net benefits resulting from a shift from one alternative to another. D) only the benefits of an alternative and not the costs.

Experimental data are often

A) observational data. B) binary data, in that the subject either does or does not respond to the treatment. C) panel data. D) time series data.