Consider the production of some industrial good that creates air pollution. The table below gives the marginal social cost (MSC), the marginal cost (MC), and the marginal social benefit (MSB) for each level of output (Q)
Q MSC MC MSB 1 3 2 11 2 6 4 10 3 9 6 9 4 12 8 8 5 15 10 7 6 18 12 6 The inefficient market quantity is ________ and the efficient market quantity is ________. A) 4; 3
B) 6; 3
C) 3; 4
D) 4; 6
A
Economics
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Increases in ________ typically lead to decreases in ________
A) the interest rate; saving B) disposable income; consumption C) autonomous consumption; consumption D) all of the above E) none of the above
Economics
What to produce, how to produce, and for who to produce are the three fundamental economic questions
a. True b. False Indicate whether the statement is true or false
Economics