What is the relationship between the marginal social benefit of milk and marginal social cost of milk when the efficient quantity of milk is produced?
What will be an ideal response?
The marginal social benefit of milk equals its marginal social cost.
You might also like to view...
The principle of comparative advantage helps explain trade between nations.
Answer the following statement true (T) or false (F)
The purchase by the central bank of newly created government debt is called "monetizing the deficit."
Indicate whether the statement is true or false
Refer to Table 4-7. If a minimum wage of $11.50 an hour is mandated, what is the quantity of labor demanded?
A) 40,000 B) 570,000 C) 610,000 D) 1,180,000
When the Federal Reserve sells a government security to a bond dealer, which transmits payment from a transactions deposit account at a bank
A) the cash of the Federal Reserve will decrease. B) the net worth of the commercial bank will decrease. C) the loans of the commercial bank will increase. D) the money supply will decrease.