The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for raising goats on a common pasture. The market equilibrium with no government intervention is raising ________
A) 0 goats
B) 40 goats
C) 50 goats
D) 55 goats
C
You might also like to view...
Movement of the fast-growing Asian nations through the demographic transition may have had an impact on growth rates because it
A) reduced expenditures on health care. B) reduced expenditures on pensions. C) increased savings. D) increased consumption relative to GDP. E) increased the number of retired people.
If the marginal cost of producing the fifth unit of output is higher than the marginal cost of producing the fourth unit of output, then at five units of output, average total cost must be rising
a. True b. False Indicate whether the statement is true or false
In finance, leverage is using:
A. the equity one owns to pay for investments planned in the future. B. borrowed money to pay for investments. C. forecasted future earnings to pay for current loans. D. predicted earnings to pay for current investments.
Monetary policy is more effective with fixed exchange rates than with floating exchange rates.
Answer the following statement true (T) or false (F)