Author Question: When the consumption of a good creates an external benefit, A) the marginal social cost curve ... (Read 74 times)

SAVANNAHHOOPER23

  • Hero Member
  • *****
  • Posts: 542
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

  • Sr. Member
  • ****
  • Posts: 350
Answer to Question 1

B

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

For a complete list of videos, visit our video library