When the market is in equilibrium, each of the firms will be producing:
Refer to the cost table above. Now suppose that there are 600 identical firms in this industry, each with the same cost data as the single firm discussed above. Suppose, too, that the demand curve for this industry is as follows:
A. 5 units
B. 6 units
C. 7 units
D. 9 units
C. 7 units
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Assume a company has a cafeteria where it lets all its workers eat without making them pay up front. Instead, at the end of the month the total cost of eating at the company cafeteria is added up and divided by the total number of workers
This amount is then deducted from each worker's paycheck. Explain how this practice may lead to a negative externality.
Which statement is false?
A. The problems of the inner city ghettos were just as bad 50 years ago as they are today. B. There was a huge outward migration of middle- and working-class blacks from the ghettos in the 1970s and early 1980s. C. About 2 out of 5 poor blacks live in areas of extreme poverty. D. None of these statements are false.