There are four lighthouses on the island of Sand. If this is the efficient quantity of lighthouses, ________
A) the marginal social benefit of the fourth lighthouse equals its marginal social cost
B) total social benefit is zero
C) marginal social benefit minus marginal social cost is a maximum
D) Both answers A and C are correct.
A
Economics
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________ is the market structure in which there are many rival firms producing differentiated products
A) Perfect competition B) Monopolistic competition C) Monopoly D) Oligopoly
Economics
Suppose a new employee is promised a pension payment of $8000 in the twenty-fourth year after joining the firm. The current pension contribution is $2000 a year. Assuming a six percent rate of return, this pension plan is said to be
A) fully funded. B) partly funded. C) unfunded. D) fully vested.
Economics