In the above figure, if no government intervention occurs, at the unregulated competitive market equilibrium, there is an
A) external marginal benefit of $2.
B) external marginal cost of $2.
C) external marginal benefit of $1.
D) external marginal cost of $3.
A
Economics
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There is only one firm in a small island country. The firm produced 1,000 units of Good X during a particular year out of which it could sell 900. If each unit of the good sells for $500, what is the gross domestic product of the country?
A) $150,000 B) $450,000 C) $40,000 D) $500,000
Economics
If firms are exiting a market then
A) economic profits must be zero B) economic profits must be greater than zero C) economic profits must be less than zero D) both economic and accounting profits must be greater than zero.
Economics