In a free market, a firm's rate of output is determined
a. where marginal social cost equals marginal social benefit
b. where marginal private benefit equals marginal social benefit
c. where marginal social cost equals marginal private cost
d. where marginal private cost equals marginal private benefit
e. by government
D
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Your opportunity cost of attending a lecture on the number of brain cells lost by binge-watching episodes of Here Comes Honey Boo Boo is
A) zero, since you already know that binge-watching will kill all of your brain cells. B) the price of the ticket for the lecture. C) the value of attending a meditation class, which is your next-best alternative. D) the total value of all other options you could have chosen instead of going to the lecture.
Refer to the scenario above. Jacob should submit a bid of ________
A) $500 B) $400 C) $300 D) $225
Usually, a commercial bank's depositors and its owners are the same individuals
a. True b. False Indicate whether the statement is true or false
A decrease in the marginal tax rates is likely to
A. Increase entrepreneurship. B. Decrease work effort. C. Decrease investment. D. Shift the aggregate supply curve to the left.