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Author Question: If a firm produces a good and the consumption of that good generates external benefits, then at the ... (Read 51 times)

booty5

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on: Oct 12, 2022

Question 1

What is the essential coordinating mechanism of a free-market economy?
◦ opportunity cost
◦ the price system
◦ allocative efficiency
◦ productive efficiency
◦ profit maximization

Question 2

If a firm produces a good and the consumption of that good generates external benefits, then at the competitive market equilibrium,
◦ the marginal social benefit is less than the marginal cost of producing the last unit.
◦ the government could subsidize the production of this good to improve efficiency.
◦ the marginal private benefit is greater than the marginal cost of producing the last unit.
◦ the firm will not produce an additional amount if it can internalize the external benefits.
◦ the output would be more than the socially optimal amount.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by booty5 on Oct 12, 2022

Tester

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Reply #1 on: Oct 12, 2022
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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booty5

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

Bigfoot1984

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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