The external marginal cost of producing coal is MCexternal = 6Q while the internal marginal cost is MCinternal = 4Q. The inverse demand for coal is given by P = 120 ? 2Q. What is the socially efficient level of output?
A. 10
B. 15
C. 20
D. 8
Answer: A
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A. Economic development B. Safety nets C. Redistribution D. None of these is true.
Toothpaste and toothbrushes are substitute goods.
Answer the following statement true (T) or false (F)
Policymakers' attempts to use the Phillips curve to reduce the unemployment rate below the natural rate
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If the Herfindahl-Hirschman Index for an industry is 8,528, is the industry competitive or concentrated?
What will be an ideal response?