The marginal cost of producing a good to society is the:
A. vertical sum of the demand curve and the marginal cost of polluting.
B. horizontal sum of the supply curve and the marginal cost of polluting.
C. horizontal sum of the demand curve and the marginal cost of polluting.
D. vertical sum of the supply curve and the marginal cost of polluting.
Answer: D
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Refer to Figure 18-8 to answer the following questions
a. Did the distribution of income become more equal in 2016 than it was in 2015, or did it become less equal? Explain. b. If area A = 1,900, area B = 450, and area C = 2,650, calculate the Gini coefficient for 2015 and the Gini coefficient for 2016.
Which of the following is generally true of a monopolistic competitor operating in the long run?
a. price greater than minimum average total cost b. price equal to marginal revenue c. price equal to marginal cost d. positive economic profits
The value of the resources flowing into firms is precisely the value of the goods and services flowing out of the firms
Indicate whether the statement is true or false
If one includes in-kind income in the calculation, the
a. official poverty rate becomes meaningless. b. incidence of poverty actually increases. c. poverty rate is unchanged. d. fraction of the population in poverty drops.