The efficient level of public good provision is determined
a. where the market demand curve intersects the marginal cost curve
b. where the sum of individual valuations equals the sum of marginal costs
c. without regard to economic factors
d. where marginal revenue product equals marginal factor cost
e. at the minimum point of the average total cost curve
A
You might also like to view...
Assume that we only have data on total cost when output is equal to zero and no other cost information at our disposal. How could we possibly know what the fixed costs are for the firm?
What will be an ideal response?
People who report being unemployed but who, in fact, are working for "under the table" pay to avoid taxes on their earnings are really employed and therefore cause the reported unemployment rate to be higher than it would otherwise be
a. True b. False Indicate whether the statement is true or false