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Author Question: If a product has zero external costs, then A) marginal social cost equals marginal private cost. ... (Read 107 times)

geodog55

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on: Jun 29, 2018
If a product has zero external costs, then
 
  A) marginal social cost equals marginal private cost.
  B) marginal social cost is greater than marginal private cost.
  C) marginal social cost is less than marginal private cost.
  D) marginal social cost equals zero.
  E) We need more information to determine the relationship between marginal private cost and marginal social cost.

Question 2

If the base year CPI market basket costs 250 and next year the CPI market basket costs 275, what is next year's CPI?
 
  What will be an ideal response?


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jackie

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

A

Answer to Question 2

The CPI equals 100  (275/250 ) = 110.


geodog55

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

JaynaD87

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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