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Author Question: Describe the conditions under which a common resource is used efficiently. What will be an ideal ... (Read 65 times)

Haya94

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on: Jun 29, 2018
Describe the conditions under which a common resource is used efficiently.
 
  What will be an ideal response?

Question 2

If a straight line passes through the point x = 8 and y = 4 and also through the point x = 12 and y = 6, the slope of this line is
 
  A) negative one half. B) one half.
  C) negative 4 divided by 2. D) two.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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mariahkathleeen

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

A common resource is used efficiently when the marginal social benefit equals the marginal social cost at the quantity produced.

Answer to Question 2

B


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