A good that has social costs that exceed private costs has a quantity that is
A. the best society can do.
B. too high.
C. just right.
D. too low.
Answer: B
Economics
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Refer to Figure 4-3. If the market price is $3.00, what is the consumer surplus on the first ice cream cone?
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The long-run aggregate supply curve assumes that
A) the unemployment rate is more than 9 percent. B) there is no government purchasing of goods and services. C) only laborers are fully employed. D) all factors of production are fully employed.
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If the fixed costs for a firm rise what will be the impact on the marginal cost, average variable cost and average total cost curves? Explain
What will be an ideal response?
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What is meant by a preference reversal?
What will be an ideal response?
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