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Author Question: There are four lighthouses on the island of Sand. If this is the efficient quantity of lighthouses, ... (Read 48 times)

melina_rosy

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on: Jun 29, 2018
There are four lighthouses on the island of Sand. If this is the efficient quantity of lighthouses, ________.
 
  A) the marginal social benefit of the fourth lighthouse equals its marginal social cost
  B) total social benefit is zero
  C) marginal social benefit minus marginal social cost is a maximum
  D) Both answers A and C are correct.

Question 2

Lizzie's budget line is shown in the figure above. If Lizzie's income is 20, which of the following formulas represents her budget equation?
 
  A) QC = 20 + QM
  B) QC = 20 - QM
  C) QC = -20 + 2 QM
  D) QC = 20 - 2QM


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orangecrush

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

A

Answer to Question 2

D


melina_rosy

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

adf223

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

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