The catch of American lobster off the shores of New England is regulated using quotas. If the quota is set correctly, then at this quantity, the marginal social cost ________ the marginal social benefit
A) is less than
B) is greater than
C) is not comparable to
D) equals
D
Economics
You might also like to view...
The goal of the firm is
A) low labor turnover. B) to maximize sales. C) to minimize costs. D) profit maximization.
Economics
Suppose the market clearing price is $15 and the price ceiling is $16. The price that prevails in the market will be
A. more than $16. B. $15. C. $16. D. less than $15.
Economics