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Author Question: When the consumption of a good creates an external benefit, A) the marginal social cost curve ... (Read 82 times)

SAVANNAHHOOPER23

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on: Jun 29, 2018
When the consumption of a good creates an external benefit,
 
  A) the marginal social cost curve lies below the marginal private cost curve.
  B) the marginal social benefit curve lies above the marginal private benefit curve.
  C) the quantity produced in an unregulated, competitive market is greater than the efficient quantity.
  D) None of the above answers is correct.

Question 2

For a monopsony, the labor supply curve
 
  A) lies above the MCL curve.
  B) is the same as the MCL curve.
  C) lies below the MCL curve.
  D) is the same as the labor demand curve.


Jayson

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

B

Answer to Question 2

C


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