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Author Question: Overproduction compared to the efficient amount implies that for the last unit produced A) ... (Read 91 times)

piesebel

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on: Jun 29, 2018
Overproduction compared to the efficient amount implies that for the last unit produced
 
  A) marginal social benefit exceeds marginal social cost.
  B) marginal social benefit equals marginal social cost.
  C) marginal social cost exceeds marginal social benefit.
  D) the deadweight loss is zero.

Question 2

The cross elasticity of demand is calculated as the percentage change in the
 
  A) quantity demanded of one good divided by the percentage change in the price of another good
  B) price of one good divided by the percentage change in the quantity demanded of another good.
  C) quantity demanded of one good divided by the percentage change in the quantity demanded of another good.
  D) price of one good divided by the percentage change in the price of another good.


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InfiniteSteez

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


piesebel

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

meganmoser117

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Reply 3 on: Yesterday
Excellent

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