Interlace, Inc produces and a unique soda. The company cannot price discriminate. The figure above shows Interlace's demand curve, marginal revenue curve, and marginal cost curve
The quantity of soda Interlace Inc will choose to produce is ________ because when this quantity is produced, ________. A) efficient; marginal social benefit exceeds marginal social cost
B) efficient; marginal social benefit equals marginal social cost
C) not efficient; marginal social benefit exceeds marginal social cost
D) not efficient; marginal social benefit equals marginal social cost
C
You might also like to view...
Equilibrium real GDP is
a. independent of the price level b. determined solely in the loanable funds market c. controlled by the Fed d. directly related to the interest rate e. the level of output at which total spending equals total output for a given price level
For a monopoly, marginal revenue is often greater than the price it charges for its good
a. True b. False Indicate whether the statement is true or false
In a closed economy, income equals:
A. consumption minus savings. B. consumption plus net exports. C. consumption plus savings. D. savings plus investment.
If the exchange rate between the Russian ruble and the U.S. dollar is 33.3 rubles for $1, then how much is each ruble worth in U.S. dollars?
a) $0.03 b) $0.30 c) $0.33 d) $33.3