Consider the hypothetical supply and demand of Kidneys.
Suppose Kidneys cannot be sold, only donated (price is zero). How many kidneys are donated in this hypothetical situation?
A. 0
B. 900
C. 2000
D. 1200
B. 900
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If a public good was left to be provided by the private sector
A) more than the efficient quantity would be produced. B) less than the efficient quantity would be produced C) the efficient quantity would be produced D) the good would be provided at a very low price.
The marginal social cost curve lies below the marginal private cost curve, with the vertical difference between the two curves representing the marginal external cost
Indicate whether the statement is true or false
In the United States, which factor of production earns the largest share of the nation's total income?
What will be an ideal response?
Marginal propensity to save (MPS) is equal to:
a. 1 - MPC. b. MPC - 1. c. MPC + 1. d. 1/MPC