At the current level of output, the marginal social cost of sandwiches exceeds the marginal social benefit of sandwiches. Compared to the allocatively efficient quantity we are producing too ________ sandwiches and too ________ of other goods
A) many; little
B) many; much
C) few; little
D) few; much
A
You might also like to view...
Suppose that a price ceiling is imposed because the market equilibrium is perceived to be too high. Which of the following rationing schemes makes no sense?
a. rationing fish to those willing to pay the highest price b. rationing fish by means of a lottery c. rationing fish to the elderly first d. rationing fish on a first-come, first-served basis e. rationing fish according to family size
In 1986, the base year, GDP was 4000. In 1989 the GDP deflator was 115. We may conclude that
A.there was some inflation between 1986 and 1989. B. there was some deflation between 1986 and 1989. C. real GDP declined between 1986 and 1989. D. GDP declined between 1986 and 1989.
Refer to the information provided in Figure 7.4 below to answer the question(s) that follow. 
Figure 7.4Refer to Figure 7.4. The average product with six workers is
A. -8.33. B. -5. C. 5. D. 8.33.
French and German farmers wanting to buy equipment from an American manufacturer based in the U.S. will be:
A. Supplying dollars and also supplying euros in the foreign exchange market B. Demanding dollars and also demanding euros in the foreign exchange market C. Supplying dollars and demanding euros in the foreign exchange market D. Supplying euros and demanding dollars in the foreign exchange market