The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. What is the efficient quantity of coffee to produce each day?

Explain what would happen to the equilibrium price and quantity of iPhones if the supply of iPhones increased while the demand for iPhones also increased

What will be an ideal response?

The long-run average cost curve is the

A) change in total product divided by the change in capital when the quantity of labor is constant. B) change in output resulting from a one-unit increase in the quantity of capital. C) relationship between the lowest attainable average total cost and output when both the plant size and labor are varied. D) relationship between the lowest attainable average total cost and output when both the plant size and labor are fixed.