In the figure above, diminishing marginal utility is shown by

If a good has an external cost, then the marginal private cost curve

A) lies below the marginal social cost curve. B) lies above the marginal social cost curve. C) is negative. D) is the same as the marginal external cost curve.

Suppose in the automobile industry with free entry and exit, the marginal cost is constant at $5,000, two identical manufacturers are currently producing 1,000 cars each and earning zero economic profit

If the equilibrium price is $20,000, then what is the fixed cost for each manufacturer? A) $20,000,000 B) $15,000,000 C) $5,000,000 D) $10,000,000