Equilibrium price is _____.
$11.00
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Marginal social cost is equal to
a. total private cost b. marginal private cost c. marginal external cost d. marginal private cost plus marginal external cost e. marginal private cost divided by marginal external cost
In the above figure, the total dollar amount of the Medicare subsidies provided by the government is equal to
A. the difference between P0 and Pd multiplied by Qd. B. the difference between Ps and Pd multiplied by Q0. C. the difference between Ps and P0 multiplied by QM. D. the difference between Ps and Pd multiplied by QM.
Which of the following are assets of commercial banks?
i. reserves ii. loans iii. deposits A) i only B) ii only C) i and ii D) ii and iii E) i, ii, and iii
Consider three ways of allocating two goods in a two-person exchange economy. I. Both individuals take prices as given and equilibrium prices are established by an impartial auctioneer. II. One individual can act as a perfect price discriminator and force the other individual to pay a different price for each unit of a good that is traded. III. One individual is a monopolist and can charge the
other individual a single, utility-maximizing price. Which of these situations is efficient? a. None of them. b. Only I. c. I and II, but not III. d. I and III, but not II.