The above table shows the marginal benefit from submarines for the only two citizens of a country. Submarines are a public good. If submarines cost $300 a piece, what is the efficient quantity to produce?
A) 0
B) 1
C) 2
D) 3
A
You might also like to view...
With respect to the business cycle, describe the difference between the expansion phase and the recovery phase
First, explain what the PS relation represents. Second, explain why it has its particular shape
What will be an ideal response?
Which of the following will result in secular deflation?
A. continuous rightward shifts of the long-run aggregate supply curve B. a one-time rightward shift of the long-run aggregate supply curve C. continuous rightward shifts of the aggregate demand curve D. a one-time rightward shift of the aggregate demand curve
Absolute advantage is
A. the ability to produce more output from given inputs than another producer can. B. the ability to produce a good at a lower opportunity cost than other producers. C. the ability to produce all goods at lower costs than anyone else can. D. is always a relative concept.