Tom and Jerry are the only members of society. The table above shows their marginal benefits from defense satellites, a public good. If the marginal social cost of a satellite is $95, the efficient quantity of satellites is
A) 0.
B) 1.
C) 2.
D) 3.
A
You might also like to view...
The expenditure approach measures GDP by adding
A) compensation of employees, rental income, corporate profits, net interest, and proprietors' income. B) compensation of employees, rental income, corporate profits, net interest, proprietors' income, subsidies paid by the government, indirect taxes paid, and depreciation. C) compensation of employees, rental income, corporate profits, net interest, proprietors' income, indirect taxes paid, and depreciation and subtracting subsidies paid by the government. D) consumption expenditure, gross private domestic investment, net exports of goods and services, and government expenditure on goods and services.
If a 4 percent rise in the price of peanut butter lowers the total revenue received by the producers of peanut butter by 4 percent, the demand for peanut butter
A) is elastic. B) is inelastic. C) is unit elastic. D) has an elasticity of 2.0.
Which is the least common type of business?
A) sole proprietorship B) corporation C) partnership D) impossible to determine without further information
The duration of unemployment tends to
A. increase when business activity decreases. B. increase when the labor force shrinks. C. stay consistently the same over long periods of time. D. increase when employment increases.