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 81 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
Gracias!

bdobbins

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

This chart illustrates the “drip down” model of government. In this, politics is formed by the soc This chart illustrates the “drip down” model of government. In this, politics is formed by the soc
Humor and Violation of Social Norms Humor and Violation of Social Norms
The medical assistant is measuring the urine output from a patient who has an indwelling Foley ... The medical assistant is measuring the urine output from a patient who has an indwelling Foley ...
Social Security Payments to Beneficiaries Social Security Payments to Beneficiaries
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 ...
Efficient Allocation of Labor between Sectors Efficient Allocation of Labor between Sectors
Video: What is Reverse Osmosis?

For a complete list of videos, visit our video library