Pa and Pb represent the prices that citizens (a) and (b), the only two people in this nation, are willing to pay for additional units of a quantity (Qc) of the public good. Qs represents the quantity of the public good supplied by government at each of the collective prices.QcPaPbQs1$4$552344324342325121Refer to the above information. If only 1 unit of this public good is produced, then the marginal benefit is:
A. $4 and the marginal cost is $7.
B. $3 and the marginal cost is $9.
C. $9 and the marginal cost is $3.
D. $6 and the marginal cost is $3.
Answer: C
Economics
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Refer to the above figure. A price ceiling of $20 results in
A) a shortage of 100 units. B) a shortage of 200 units. C) a surplus of 100 units. D) a surplus of 200 units.
Economics
Which of the following laws increased competition among financial institutions and gave the Fed greater control over nonmember banks?
a. The Federal Reserve Act. b. The Equal Credit Opportunity Act. c. The Monetary Control Act. d. The Thrift Bailout Bill.
Economics