There is "too much" steel production if the
A) social costs of steel production are significantly lower than the private costs.
B) social benefits of steel production are declining.
C) social costs of steel production are significantly higher than the private costs.
D) social costs of steel production are declining.
C
You might also like to view...
When Lonnie produces 1 pair of cowboy boots his costs total $300. When he produces 2 pairs of cowboy boots his total costs are $500. This means that Lonnie's marginal cost of producing the second pair of cowboy boots is $200
Indicate whether the statement is true or false
An increase in aggregate demand results in
A) a higher unemployment rate and a lower price level. B) a decrease in real GDP and a decrease in the price level. C) a lower unemployment rate and a lower price level. D) an increase in real GDP and a decrease in the price level. E) a lower unemployment rate and a higher price level.