The above figure shows the marginal social benefit and marginal social cost curves of chocolate in the nation of Kaffenia. When the marginal social benefit is equal to the marginal social cost of chocolate in Kaffenia
A) either 100 pounds or 250 pounds can be produced each day.
B) no chocolate is produced.
C) 150 pounds will be produced each day.
D) any quantity up to 150 pounds will be efficient.
C
Economics
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Economists believe that the same explanation for the rapid growth of costs applies to services, theatrical performances and restaurant meals.
Answer the following statement true (T) or false (F)
Economics
Suppose a private monopolist is supplying a good that is nonrival but excludable. The market demand for the good is P = 24 - 3Q. If the marginal cost of providing this good is zero, but the firm charges $18, then the monopolist will provide ________ units, and the efficient number of units is ________.
A. 2; 2 B. 2; 8 C. 6; 8 D. 4; 2
Economics