The marginal cost of production that is borne by the entire society is the
A) marginal private cost.
B) marginal social cost.
C) marginal external cost.
D) None of the above answers is correct.
B
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The assumption that regulation relentlessly seeks out deadweight loss and seeks to eliminate it is called the
A) social interest theory of regulation. B) capture theory of regulation. C) Coase theory of regulation. D) socially optimal theory of regulation. E) predatory theory of regulation.
Which of the following is considered per se illegal under the U.S. antitrust law?
a. An agreement to fix prices of commodities. b. An agreement to maintain certain technical standards. c. An agreement to operate only in specific regions. d. An agreement to follow identical production technique.
Now, about ____ percent of American married-couple families have two or more wage earners
a. 35 b. 50 c. 60 d. 90
A tariff
A) makes everyone worse off.
B) makes domestic consumers better off.
C) makes domestic producers better off.
D) makes both domestic producers and consumers better off.