Author Question: Refer to the figure above. If Lithasia does not engage in international trade, what is the domestic ... (Read 51 times)

Mimi · **on:** Jun 29, 2018

Refer to the figure above. If Lithasia does not engage in international trade, what is the domestic production of pens?

A) 0 units
B) 6 units
C) 12 units
D) 16 units

Question 2

The figure above illustrates the marginal private cost and the marginal social cost to the city of Seattle for each rock concert that is offered. If 5 concerts are put on, then the

A) marginal external cost will be greater than the marginal social cost.
B) marginal external cost will be greater than the marginal private cost.
C) marginal external cost will equal the marginal private cost.
D) marginal social cost will equal the marginal external cost.
E) marginal external cost will equal zero.