« previous next »

Author Question: Refer to Figure 5-1. If, because of an externality, the economically efficient output is Q2 and not ... (Read 51 times)

kshipps

  • Hero Member
  • *****
  • Posts: 571
on: Jun 29, 2018
Refer to Figure 5-1. If, because of an externality, the economically efficient output is Q2 and not the current equilibrium output of Q1, what does S2 represent?
 
  A) the market supply curve reflecting marginal social cost
  B) the market supply curve reflecting implicit cost
  C) the market supply curve reflecting marginal private cost
  D) the market supply curve reflecting external cost

Question 2

Refer to Table 8-27. What is the level of disposable personal income for this economy?
 
  A) 1,080 billion B) 1,010 billion C) 980 billion D) 860 billion


marict

  • Sr. Member
  • ****
  • Posts: 304
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

An analogy for how cardiac output, resistance, and blood pressure are related. An analogy for how cardiac output, resistance, and blood pressure are related.
The energy input and output of glycolysis. The energy input and output of glycolysis.
(A) Figure illustrating the location and appearance of a peptic ulcer in both the stomach and the du (A) Figure illustrating the location and appearance of a peptic ulcer in both the stomach and the du
The illusory bands visible in this figure are often called Mach bands, although Mach used a ... The illusory bands visible in this figure are often called Mach bands, although Mach used a ...
Re-creation of Pheidias’s Huge Gold and Ivory Figure of Athena Re-creation of Pheidias’s Huge Gold and Ivory Figure of Athena
Effect of an Increase in gA,2 on Productivity and Output Effect of an Increase in gA,2 on Productivity and Output
Video: Osteoporosis

For a complete list of videos, visit our video library