The socially efficient level of output is determined where:
a. marginal social cost equals marginal social benefit.
b. marginal private cost equals marginal social benefit.
c. average social cost equals average social benefit.
d. average private cost equals average social benefit.
a
Economics
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A monopolistic competitor has fixed costs of $100 and marginal costs of $10 per unit. What is its marginal revenue at its equilibrium price and quantity?
a. $10 b. $11 c. $1,100 d. $2,000
Economics
On a graph showing the relationship between x and y, the ceteris paribus condition implies that
A) no other variables are related to x and y. B) the value of x is held constant. C) the value of y is held constant. D) other variables not shown are held constant.
Economics