Refer to the information provided in Figure 16.2 below to answer the question(s) that follow.
Figure 16.2Refer to Figure 16.2. The ________ imposed as a result of producing the market (unregulated) level of cars is $350.
A. total damage
B. marginal private cost
C. marginal social cost
D. marginal social benefit
Answer: A
You might also like to view...
Labor resources:
a. include only physical activities. b. are only counted as a resource if used in the production of other resources. c. include only skilled labor. d. include both physical and mental activities. e. include human effort involved in the production of goods, but not services.
If some of unemployed individuals became discouraged workers, which of the following would result?
a. The labor force would decrease and the unemployment rate would decrease. b. The labor force would decrease and the unemployment rate would remain the same. c. The labor force would increase and the unemployment rate would decrease. d. The labor force would decrease and the unemployment rate would increase. e. The labor force would increase and the unemployment rate would remain the same.
Other things being equal, a price-discriminating firm will charge less to the customers who
A) have the lowest incomes. B) have the least elastic demand for its product. C) have the most elastic demand for the product. D) are the most rational in making their decisions.
Compared to perfect competition, the consumer surplus in a monopoly
A) is unchanged because price and output are the same. B) is lower because price is higher and output is lower. C) is higher because price is higher and output is the same. D) is eliminated.