Author Question: Phases and turning points of the business cycle are expansion, peak, recession and trough. ... (Read 88 times)

Cooldude101 · **on:** Jun 29, 2018

Phases and turning points of the business cycle are expansion, peak, recession and trough.

Indicate whether the statement is true or false

Question 2

When 2,000 hamburgers per day are produced, the marginal social benefit is 1.50 and the marginal social cost is 1.00. And when 7,500 hamburgers per day are produced, the marginal social benefit is 1.00 and the marginal social cost is 1.50.

The efficient production quantity of hamburgers is ________ a day. A) more than 7,500
B) 7,500
C) between 2,000 and 7,500
D) 2,000