The above figure shows the marginal social benefit and marginal social cost curves of doughnuts in the nation of Kaffenia. What is the marginal social cost to the economy of Kaffenia of producing the 300th dozen doughnuts each day?
A) $10.00 per dozen
B) $8.00 per dozen
C) $6.00 per dozen
D) $4.00 per dozen
B
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An increase in the supply of dollars on the foreign exchange market, all else equal, will result in:
A) appreciation of the U.S. dollar and depreciation of the foreign currency. B) appreciation of the U.S. dollar and appreciation of the foreign currency. C) depreciation of the U.S. dollar and depreciation of the foreign currency. D) depreciation of the U.S. dollar and appreciation of the foreign currency.
Economic regulation is government policy designed to
a. improve health and safety in products and in working conditions b. prevent firms from monopolizing or developing a cartel in existing competitive markets c. eliminate existing monopolies by breaking them apart into many smaller firms d. create monopolies by forcing competitive firms to merge e. control price and output in industries where monopoly is desirable
Which of the following demographic groups in the U.S. reported the highest unemployment rate in 1996?
a. White adult males b. White adult females c. African American teenage males d. White teenage females
The unconstrained supply of labor refers to the amount a household ________ within a given period at the current wage rate if it could find the work.
A. chooses not to work B. would like to work C. actually works D. is forced to work