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Author Question: When the efficient quantity of output is produced A) the marginal social benefit of the last unit ... (Read 129 times)

michelleunicorn

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on: Jun 29, 2018
When the efficient quantity of output is produced
 
  A) the marginal social benefit of the last unit produced is equal to the marginal social cost of the last unit produced.
  B) the sum of consumer surplus and producer surplus is maximized.
  C) resources are used in the activities in which they are most highly valued.
  D) All of the above answers are correct.

Question 2

In the figure above, an increase in the quantity of oil supplied but NOT an increase in the supply of oil is shown by a movement from
 
  A) point a to point e.
  B) point a to point b.
  C) point a to point c.
  D) point a to point d.


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leannegxo

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

D

Answer to Question 2

A


michelleunicorn

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

Dinolord

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

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