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Author Question: Protection of rivers in Idaho is a public good. If the marginal social cost of protecting rivers in ... (Read 138 times)

londonang

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on: Jun 29, 2018
Protection of rivers in Idaho is a public good. If the marginal social cost of protecting rivers in Idaho exceeds the marginal social benefit of river protection, is there more than, less than,
 
  or the efficient amount of river protection taking place?

Question 2

Relative to the demand curve for low-skilled workers, the demand curve for high-skilled workers lies
 
  A) to the right.
  B) to the left.
  C) below.
  D) in the same place.


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potomatos

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

If the marginal social cost exceeds the marginal social benefit, there is more than the efficient amount of protection taking place. The efficient amount is the quantity such that the marginal social benefit equals the marginal social cost. Any other amount creates a deadweight loss.

Answer to Question 2

A


londonang

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Reply 2 on: Jun 29, 2018
Wow, this really help

EAN94

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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