The table above shows information about the costs and benefits of a steel smelter that pollutes the air of a city. The market is efficient when the quantity of steel produced is ________ tons per week

For a private good, the economy's marginal social benefit curve is the _______________ sum of the individual marginal benefit curves and for a public good, the economy's marginal social benefit curve is the ________________ sum of the individual marginal benefit curves.

a) horizontal; vertical b) horizontal and vertical; vertical and horizontal c) vertical; vertical d) vertical; horizontal

Suppose that the elasticity of demand for insulin is 0.1, the elasticity of demand for oranges is 1.2, and the elasticity of supply for insulin and oranges is 0.4

If the government imposes a 10 percent tax on both insulin and oranges, the decrease in the quantity of oranges is ________ the decrease in the quantity of insulin. A) larger than B) smaller than C) equals to D) not comparable to E) More information is needed to determine how the decrease in the quantity of oranges compares to the decrease in the quantity of insulin.