In the above figure, when the efficient quantity is produced the marginal social cost of the last magazine is
A) $1.
B) $3.
C) $5.
D) some amount not given in the above three answers.
B
Economics
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What are some of the common arguments against free trade?
What will be an ideal response?
Economics
If marginal cost exceeds marginal revenue, a profit-maximizing monopolist will:
a. restrict output to increase the price even higher. b. raise price and expand output to increase profit. c. lower price and expand output to increase profit. d. attempt to maintain this position because it is consistent with profit maximization.
Economics