This topic contains a solution. Click here to go to the answer
« previous next »
Pages: 1 2 3 4  All   Go Down

Author Question: The above figure shows the market for steel ingots. If the market is competitive, then (Read 1007 times)

dejastew

  • Hero Member
  • *****
  • Posts: 562
on: Jun 18, 2019


The above figure shows the market for steel ingots. If the market is competitive, then
◦ the socially optimal quantity of steel of 100 units is produced.
◦ more than the socially optimal quantity of 50 units of steel is produced.
◦ the socially optimal quantity of steel of 50 units is produced.
◦ the socially optimal quantity of steel is zero.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by dejastew on Jun 18, 2019

jointhecircus

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 18, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


saliriagwu

  • Hero Member
  • *****
  • Posts: 537
Reply #2 on: Jun 18, 2019


The above figure shows the market for steel ingots. An externality can be seen because
◦ the private marginal cost exceeds the social marginal cost.
◦ the optimal quantity of steel is zero.
◦ not enough steel gets produced by the competitive market.
◦ the social marginal cost exceeds the private marginal cost.


kescobar@64

  • Sr. Member
  • ****
  • Posts: 324
Reply #3 on: Jun 18, 2019
the social marginal cost exceeds the private marginal cost.


saliriagwu

  • Hero Member
  • *****
  • Posts: 537
Reply #4 on: Jun 18, 2019
Thanks


kescobar@64

  • Sr. Member
  • ****
  • Posts: 324
Reply #5 on: Jun 18, 2019
Welcome :)


PhilipSeeMore

  • Hero Member
  • *****
  • Posts: 561
Reply #6 on: Jun 18, 2019


The above figure shows the market for steel ingots. If the market is competitive, then the deadweight loss to society is
◦ a.
◦ b.
◦ c.
◦ zero.


enass

  • Sr. Member
  • ****
  • Posts: 380
Reply #7 on: Jun 18, 2019
c.


shenderson6

  • Hero Member
  • *****
  • Posts: 573
Reply #8 on: Jun 18, 2019


The above figure shows the market for steel ingots. The socially optimal quantity of steel is
◦ 0 units.
◦ 50 units.
◦ 100 units.
◦ the amount produced if the market were competitive.


mbcrismon

  • Sr. Member
  • ****
  • Posts: 328
Reply #9 on: Jun 18, 2019
50 units.


Pages: 1 2 3 4  All   Go Up
« previous next »
 

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar
This diagram shows a cross-section of a solar-type star. This diagram shows a cross-section of a solar-type star.
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
The end of a typical line wrench, which shows that it is capable of grasping most of the head of ... The end of a typical line wrench, which shows that it is capable of grasping most of the head of ...
Figure and Ground Figure and Ground
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Neurosynapse Animation

For a complete list of videos, visit our video library