Refer to Figure 5-15. The current market equilibrium output is partly the result of overfishing. In that case, what does S1 represent?
A) the social marginal cost of harvesting salmon
B) the social marginal benefit of harvesting salmon
C) the private marginal cost of harvesting salmon
D) the private marginal benefit of harvesting salmon
C
Economics
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For a borrower in a (c,c') graph, the optimal consumption bundle is
A) to the left of the endowment point. B) to the right of the endowment point. C) on the endowment point. D) dependent on other factors.
Economics
When equilibrium GDP is greater than potential GDP, jobs are plentiful and labor is in great demand
a. True b. False Indicate whether the statement is true or false
Economics