Author Question: When the marginal benefit equals the marginal cost of the last unit sold in a competitive market ... (Read 138 times)

soccerdreamer_17

  • Hero Member
  • *****
  • Posts: 552
When the marginal benefit equals the marginal cost of the last unit sold in a competitive market
 
  A) producer surplus is equal to consumer surplus.
  B) the net benefit of consumers is equal to the net benefit of producers.
  C) an economically efficient level of output is produced.
  D) total benefit is equal to total cost.

Question 2

To increase gas mileage, automobile manufacturers make cars small and light. Large cars absorb more of the impact of an accident than small cars but yield lower gas mileage.
 
  These facts suggest that a positive relationship exists between safety and gas mileage.
 
 
  Indicate whether the statement is true or false


fromAlphatoOmega22

  • Sr. Member
  • ****
  • Posts: 345
Answer to Question 1

C

Answer to Question 2

FALSE



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

For a complete list of videos, visit our video library