This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When the efficient quantity of output is produced A) the marginal social benefit of the last unit ... (Read 57 times)

michelleunicorn

  • Hero Member
  • *****
  • Posts: 565
on: Jun 29, 2018
When the efficient quantity of output is produced
 
  A) the marginal social benefit of the last unit produced is equal to the marginal social cost of the last unit produced.
  B) the sum of consumer surplus and producer surplus is maximized.
  C) resources are used in the activities in which they are most highly valued.
  D) All of the above answers are correct.

Question 2

In the figure above, an increase in the quantity of oil supplied but NOT an increase in the supply of oil is shown by a movement from
 
  A) point a to point e.
  B) point a to point b.
  C) point a to point c.
  D) point a to point d.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leannegxo

  • Sr. Member
  • ****
  • Posts: 374
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


michelleunicorn

  • Member
  • Posts: 565
Reply 2 on: Jun 29, 2018
Excellent

gcook

  • Member
  • Posts: 343
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

A structural gene as a transcriptional unit A structural gene as a transcriptional unit
The medical assisting profession offers many settings in which to pursue your career. Good communica The medical assisting profession offers many settings in which to pursue your career. Good communica
Competence in expressing, understanding, and regulating emotions are crucial aspects of social ... Competence in expressing, understanding, and regulating emotions are crucial aspects of social ...
Review Bundling, Add-on Codes, and Quantity Edits Review Bundling, Add-on Codes, and Quantity Edits
Vienna: Social Structure and Social Interaction Vienna: Social Structure and Social Interaction
A functional renal unit. A functional renal unit.
Video: Regulation of GFR: autoregulation via tubuloglomerular feedback, neural & hormonal regulation

For a complete list of videos, visit our video library