What is marginal external cost of production?
What will be an ideal response?
Marginal external cost of production is the cost of producing an additional unit of a good or service that falls on people other than the producer.
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The quantity of real GDP supplied decreases if the price level ________ because it ________ profits
A) falls; decreases B) rises; increases C) rises; decreases D) falls; increases E) None of the above answers is correct because the AS curve is vertical so that the quantity of real GDP supplied does not change when the price level changes.
Holding all else constant, when interest rates fall,
(a) yields on common stocks rise above yields on bonds. (b) yields on common stocks fall below yields on bonds. (c) yields on common stocks and bonds rise at an equal rate. (d) yields on common stocks and bonds fall at an equal rate.