The quantity of newspapers sold will decline if
a. newsprint becomes more expensive.
b. the printers' union makes wage concessions.
c. prices are reduced.
d. magazine prices rise.
a
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The social cost of producing a good that generates negative externalities is the sum of the ________
A) average variable cost and average fixed cost of production B) average total cost and the marginal cost of production C) private cost and external costs of production D) total fixed cost and total variable cost of production
If a good has zero external costs, then
A) marginal social cost equal marginal private cost. B) marginal social cost is greater than marginal private cost. C) marginal social cost is less than marginal private cost. D) we need more information to determine the relationship between private and social costs.