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

Author Question: When the efficient quantity of output is produced A) the marginal social benefit of the last unit ... (Read 60 times)

michelleunicorn

  • Hero Member
  • *****
  • Posts: 565
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

leannegxo

  • Sr. Member
  • ****
  • Posts: 374
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


michelleunicorn

  • Member
  • Posts: 565
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

flexer1n1

  • Member
  • Posts: 373
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Behavioral and Social-Cognitive Approaches to Personality Behavioral and Social-Cognitive Approaches to Personality
Stressing that education reproduces a country’s social class system, conflict theorists point out ... Stressing that education reproduces a country’s social class system, conflict theorists point out ...
Radiation Quantity and Quality Radiation Quantity and Quality
Social Development Social Development
Social Jetlag Social Jetlag
A buffer solution is prepared using 0.5 moles of a weakly basic drug and an unknown quantity of ... A buffer solution is prepared using 0.5 moles of a weakly basic drug and an unknown quantity of ...
Video: Osmosis - water transport

For a complete list of videos, visit our video library