Which of the following represents a perfectly competitive farmer's demand curve for hired hands?
a. her ATC curve
b. her AVC curve
c. her MRP curve
d. her MRC curve
e. her AFC curve
Question 2
When consumption of a good creates positive externalities,
a. the private demand curve shifts rightward
b. the private demand curve shifts leftward
c. the private demand curve is below the marginal social benefit curve
d. the private demand curve is above the marginal social benefit curve
e. the equilibrium quantity determined by the free private market is too high
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