The above figure shows the marginal social benefit, marginal private cost and marginal social cost of producing steel. If the market is competitive and unregulated, how much steel will be produced?
A) 0 tons
B) 2 tons
C) 4 tons
D) 8 tons
C
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Suppose when the price of mascara is $12, the quantity demanded is 450, and when the price is $8, the quantity demanded is 550. Using the mid-point method, the price elasticity of demand is:
A. –0.5 B. –2.0 C. –55 D. –180
Without someone actually coming into the bank to demand a loan, there is no process of money creation
Indicate whether the statement is true or false
The M form organization says China's success is due to:
a. central planning b. state capitalism c. regional competition d. the Hukuo system e. none of the above
Suppose a total of? 2,500 students are allowed in the engineering programs at all of the colleges in a particular city. From the previous three? years' record, it shows that the number of students who enroll in the entrance exam for the engineering program increases if there is an increase in the number of IT recruiters the previous year.This year there is a total of? 3,200 students who have enrolled to take the entrance exam of which only up to? 2,500 of those who passed would get in. Based on either the? students' perspective or the college? perspective, what combination of economic key concepts does the situation? follow?
A. Equillibrium and empiricism B. Optimization and empiricism C. Optimization, equillibrium, and empiricism D. Optimization and equillibrium