If a production quota is set below the equilibrium quantity, at the quota quantity, marginal benefit is ________ marginal cost and the level of production is ________
A) greater than; inefficient
B) greater than; efficient
C) less than; inefficient
D) equal to; efficient
A
Economics
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A monopoly market has
A) a few firms. B) a single firm. C) two dominating firms in the market. D) only two firms in it. E) some unspecified number of firms in it.
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Explain who gains and who loses from a tariff and why the losses exceed the gains
What will be an ideal response?
Economics