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 987 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?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

A plot of trophic diversity across the major groups of organisms shows highest trophic diversity amo A plot of trophic diversity across the major groups of organisms shows highest trophic diversity amo
figure 18-1 pituitary hormones figure 18-1 pituitary hormones
This chart shows the various lines of responsibility and how they differ in presidential and parliam This chart shows the various lines of responsibility and how they differ in presidential and parliam
The photo shows an ultrasound image of a fetus. The rough outline of a head and body can be seen. ... The photo shows an ultrasound image of a fetus. The rough outline of a head and body can be seen. ...
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Joint movement of the fingers. Apply scissoring at the knuckles and figure-8s to the fingers to ... Joint movement of the fingers. Apply scissoring at the knuckles and figure-8s to the fingers to ...
Video: Acid-base imbalances - compensation of metabolic acidosis and alkalosis

For a complete list of videos, visit our video library