The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. If the market is perfectly competitive and unregulated, the equilibrium price per ton will be
A) $70.
B) $80.
C) $90.
D) $100.
B
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In the neoclassical growth model, the rate of technological process is:
a. 2 percent. b. 0 percent. c. exogenous and not explained. d. endogenous and explained by human capital accumulation.
The natural rate of unemployment will help determine
A) the open economy effect. B) the position of the long-run aggregate supply curve. C) the level of economic growth in the economy. D) low levels of inflation.
Over the past several years, the earnings gap between high-skilled and low-skilled workers has
a. increased. b. decreased. c. remained constant. d. first increased by a small percent, then decreased by a large percent.