Net social benefits are maximized when:
A) marginal benefits equal marginal costs.
B) marginal benefits are greater than marginal costs.
C) marginal benefits are less than marginal costs.
D) total benefits are equal to total costs.
E) average benefits are marginal benefits are equal.
A
You might also like to view...
If the demand curve for a product shifts to the left and the supply curve for the product shifts to the left, the equilibrium quantity will decrease
Indicate whether the statement is true or false
Assume there is no way to prevent someone from using an interstate highway, regardless of whether or not he or she helps pay for it. This characteristic is called
What will be an ideal response?
Which of the following would be most likely to receive high economic rent payments?
A) farmer B) professional baseball player C) factory worker D) school teacher
When economies of scale exist,
a. production costs per unit increase as output expands. b. production costs per unit decline as output expands. c. total production costs decrease. d. total production costs increase.