Most economists support the idea of peak-load pricing on the grounds of
a. fairness in income distribution.
b. efficiency in input usage.
c. equality of opportunity.
d. efficiency in output allocation.
d
Economics
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The inclusion of external costs in the decision making process determining equilibrium price and quantity leads to
A) lower priced items and increased quantity. B) lower priced items and a decline in quantity. C) higher priced items and increased quantity. D) higher priced items and a decline in quantity.
Economics
Each point of a firm's supply curve represents a price-quantity pair where:
A. MC = MR. B. P = min ATC. C. P = min AVC. D. MC = ATC.
Economics