The ________ is the cost of paid by the producer plus any cost paid by everyone else when another unit of a good or service is produced
A) marginal external cost.
B) marginal private cost.
C) marginal social cost.
D) None of the above answers is correct.
C
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Barriers to entering an industry ________.
A. encourage allocative efficiency B. are characteristic of a pure monopoly C. encourage productive efficiency D. apply only to pure monopolies
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Public franchises create monopolies by restricting
A) demand. B) prices. C) entry. D) profit.
Monopolies will tend to overproduce goods and charge a higher price than the competitive price.
Answer the following statement true (T) or false (F)