Refer to Figure 5-6. What does D2 represent?
A) the demand curve reflecting marginal social benefits
B) the positive externalities curve
C) the demand curve reflecting marginal private benefits
D) the social welfare curve
A
You might also like to view...
Refer to Figure 4-1. If the market price is $2.00, what is Arnold's consumer surplus?
A) $0.50 B) $1.00 C) $1.50 D) $3.00
A defendant believes there is a 70 percent chance that the plaintiff will win $200,000, a 10 percent chance the plaintiff will win $150,000 and a 20 percent chance the plaintiff will lose and receive nothing (zero). If the defendant's litigation cost is $100,000, what is the defendant's expected loss from the litigation?
A) $150,000 B) $255,000 C) $300,000 D) $155,000
Protectionist policies often seek to shield domestic producers and domestic workers from ________ competition.
a. foreign b. local c. domestic d. unfair
The Dow Jones Industrial Average is an arithmetic average of ________ blue-chip industrial stocks.
A. 500 B. 75 C. 30 D. 50