The optimal output of a collective consumption good is found by_____
a. equaling marginal cost and the vertical summation of all individual's demand curves
b. equaling price and marginal cost
c. equaling marginal cost and the horizontal summation of all individual's demand curves
d. equaling marginal cost and long-run average total cost
a
Economics
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In the figure above, the length of the double sided arrow is the
A) consumer surplus. B) deadweight loss. C) producer surplus. D) economic loss per unit. E) economic profit.
Economics
Since 1929, total government taxes as a percentage of GDP:
a. climbed from 10 percent to over 35 percent. b. remained close to 30 percent. c. climbed from 30 percent to about 50 percent. d. climbed from 15 percent to about 50 percent.
Economics