This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the marginal social benefit of pizza exceeds the marginal social cost of pizza, the economy is ... (Read 145 times)

humphriesbr@me.com

  • Hero Member
  • *****
  • Posts: 550
on: Jun 29, 2018
If the marginal social benefit of pizza exceeds the marginal social cost of pizza, the economy is producing the efficient quantity of pizza.
 
  Indicate whether the statement is true or false

Question 2

In the Village of Punjab, Sheryl owns a well, which is the only source of drinking water. The supply of water is perfectly inelastic at a quantity of 1,000 gallons of water per day.
 
  At a price of 2.00 per gallon, the quantity demanded per day is 1,000 gallons. The government imposes a 0.50 per gallon tax.
  a) After the tax is imposed, what is the price paid by the villagers? What is the price received by Sheryl?
  b) How much revenue does the government collect?
  c) What fraction of the tax does Sheryl pay? What fraction is paid by the villagers?
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

dmurph1496

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


humphriesbr@me.com

  • Hero Member
  • *****
  • Posts: 550
Reply #2 on: Jun 29, 2018
Thank you :)


dmurph1496

  • Sr. Member
  • ****
  • Posts: 343
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

The U.S. Social Class Ladder The U.S. Social Class Ladder
The main avenue to the upward social mobility reviewed in the text has been higher education. The main avenue to the upward social mobility reviewed in the text has been higher education.
Democracy (or “democratization”) is a global social movement. People all over the world yearn ... Democracy (or “democratization”) is a global social movement. People all over the world yearn ...
Creating a Continental Economy Creating a Continental Economy
Links to the World Economy Links to the World Economy
question in cost accounting question in cost accounting
Video: Audiology

For a complete list of videos, visit our video library