In the figure above, if the market is unregulated, then at the equilibrium output level, the marginal social cost of production
A) is less than the marginal benefit to consumers.
B) exceeds the marginal benefit to consumers.
C) equals the marginal benefit to consumers.
D) equals the marginal private cost of production.
B
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It is not uncommon to read about highly successful mutual fund managers that spend considerable amounts of time visiting the companies that they have placed their clients' funds with. What might be the motive(s) behind these visits?
What will be an ideal response?
If the four-firm concentration ratio of an industry is
A) near 100, the industry is considered very competitive. B) less than 40, the industry is considered an oligopoly. C) over 40, the industry is considered monopolistic competition. D) less than 40, the industry is considered monopolistic competition. E) close to 0, the industry is considered a monopoly.
Typically, oligopolistic industries have a high ______.
a. number of sellers b. level of perfect competition c. number of monopolies d. rate of profit
Recall the Application about finding estimates of elasticities of demand to answer the following question(s).According to the Application, the regular price elasticities of demand found at www.ers.usda.gov are reported as:
A. positive numbers. B. negative numbers. C. dollars per unit of foreign currency. D. foreign currency units per dollar.