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Author Question: The above figure shows the market for steel ingots. If the market is competitive, then (Read 795 times)

dejastew

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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
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Marked as best answer by dejastew on Jun 18, 2019

jointhecircus

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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.
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saliriagwu

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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

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Reply #3 on: Jun 18, 2019
the social marginal cost exceeds the private marginal cost.


saliriagwu

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Reply #4 on: Jun 18, 2019
Thanks


kescobar@64

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Reply #5 on: Jun 18, 2019
Welcome :)


PhilipSeeMore

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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

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Reply #7 on: Jun 18, 2019
c.


shenderson6

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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

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Reply #9 on: Jun 18, 2019
50 units.


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