If the marginal external cost of building a children's playground equals zero, then the i. marginal private cost equals the marginal social cost. ii. marginal social cost equals zero. iii. marginal private cost equals zero
A) i only
B) ii only
C) iii only
D) ii and iii
E) i and ii
A
You might also like to view...
The natural unemployment rate is the result of
A) job search and job rationing. B) insufficient demand for labor. C) the Lucas Wedge. D) the Okun Ga
Specialization and the division of labor typically result in
A) cost overruns. B) increased output. C) decreased output. D) a greater reliance upon imports.
Shoe-leather costs refer to:
A. the money, time, and opportunity used to change prices to keep pace with inflation. B. the time, money, and effort one has to spend managing cash in the face of inflation. C. being penalized via taxes for making more money in dollars, even though real purchasing power hasn't changed at all. D. labor costs associated with inflation.
Suppose that the quantity of cars demanded exceeds the quantity of cars supplied. We would expect that
A) the price of cars will increase. B) the price of cars will decrease. C) the supply will increase (supply will shift to the right) to meet the demand. D) the demand will decrease (demand will shift to the left) to meet the supply.