The above figure shows the marginal social benefit and marginal social cost curves of chocolate in the nation of Kaffenia. What is the marginal social cost of producing the 250th pound of chocolate each day?
A) $625.00 per pound
B) $2.50 per pound
C) $1.00 per pound
D) $0.50 per pound
B
Economics
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The ________________deals with the relationship between the factors of production and the output of goods and services.
Fill in the blank(s) with the appropriate word(s).
Economics
The figure above shows the supply and demand for pizza
a. What is the efficient level of output? b. If 70,000 pizzas are produced, what area represents the deadweight loss? c. Why does the deadweight loss in part (b) occur? d. If 20,000 pizzas are produced, what area represents the deadweight loss? e. Why does the deadweight loss in part (d) occur?
Economics