Goodspeed Automobiles manufactures 100 disc brake cylinders. At this output level, its marginal revenue is equal to its marginal cost. If the revenue per unit of output is $500 and the per unit cost is $350, its profit is:

The figure above shows the market for tires. The figure shows that the government has imposed a tax of ________ per tire

A) $10 B) $30 C) $40 D) $60 E) None of the above answers is correct.

Social costs are

A) costs that are borne by the government. B) the full cost borne by society whenever a resource use occurs. C) borne by individuals who incur them. D) another term for external costs.