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 876 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?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

James Madison was a key figure at the Constitutional Convention of 1787 in Philadelphia. He not only James Madison was a key figure at the Constitutional Convention of 1787 in Philadelphia. He not only
This lithograph of the New York draft riots, 1863, shows that although the rioters mainly targeted b This lithograph of the New York draft riots, 1863, shows that although the rioters mainly targeted b
The distribution of cones and rods over the human retina. The figure illustrates the number of cones ... The distribution of cones and rods over the human retina. The figure illustrates the number of cones ...
This image shows the spread of droplets from an uncovered sneeze. This image shows the spread of droplets from an uncovered sneeze.
EYEMA-O-BYERI (Reliquary Figure) EYEMA-O-BYERI (Reliquary Figure)
A police record search of 250 incoming Grade 10 at a Secondary School shows that 26 had been ... A police record search of 250 incoming Grade 10 at a Secondary School shows that 26 had been ...
Video: Non-specific disease resistance mechanisms & Skin's defense barriers

For a complete list of videos, visit our video library