A supply curve shows quantities supplied at various prices. It also shows the
A) total profit the firm earns at a given level of output.
B) marginal benefit of the good.
C) total cost of production.
D) marginal cost of production.
E) producer surplus, which is equal to the slope of the supply curve.
D
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An economy operating its plant and equipment at full capacity implies a capacity utilization rate of
A. 40 percent. B. 70 percent. C. 85 percent. D. 100 percent.
If the production of oranges reduces global warming, then the equilibrium quantity of oranges will be ________ the socially optimal quantity.
A. higher than B. equal to C. more valuable than D. lower than
A . What kind of market failure is associated with goods that have negative externalities? b. How can the government intervene in free markets to correct the market failure associated with negative externalities?
What are the components of national income? What is the relative share going to wages and salaries and to corporate profits?
What will be an ideal response?