Which of the following is NOT a stage of development that modern rich nations have gone through?

The marginal social cost of production is the

A) marginal private cost plus the marginal external cost. B) same as the marginal cost of any externality. C) total cost of any externality. D) marginal private cost minus the marginal external cost.

The emigration of some of Whoville's workers reduces the quantity of thingamabobs supplied at every price by 50 . The new supply curve will ____ the old supply curve

a. be steeper and less elastic at every price than b. have the same slope and the same elasticity at every price as c. have the same slope and be more elastic at every price than d. More information is needed to predict the relationship between the elasticities of the two supply curves.