Although the efficient quantity to produce of any good is located where marginal social benefit and marginal social cost are equal, there will usually be other quantities where the sum of consumer and producer surplus are greater.
Indicate whether the statement is true or false
Question 2
A change in technology that shifts the firm's total product curve upward without changing the quantity of capital used
A) shifts the average total cost curve upward.
B) shifts the average total cost curve downward.
C) does not change the cost curves.
D) shifts the marginal cost curve upward.
African lions are highly social predators.
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Modern commercial fishing is highly efficient