Marginal social cost is the A) price a consumer pays for one ...

[sjones]

Marginal social cost is the
 
  A) price a consumer pays for one more unit of a good.
  B) cost a producer incurs producing one more unit of a good.
  C) cost of producing one more unit of a good that falls on someone other than the producer.
  D) sum of the cost a producer incurs from producing one more unit of a good plus the cost of producing one more unit of a good that falls on someone other than the producer.
  E) same as marginal cost only if there is an external cost when the good is produced.

Question 2

Fill in the blank: The Players Union went on strike against the NBA during the 1998-1999 season, canceling games for weeks.
 
  Other things constant, the strike and subsequent cancellation of games would tend to ________ the price elasticity of demand for hockey tickets during the same period the NBA games were canceled. A) worsen
  B) preserve
  C) increase
  D) decrease

[KKcool]

Answer to Question 1

D

Answer to Question 2

D