Net social benefits are maximized when

Assignment Help Business Economics

Reference no: EM13852659

Net social benefits are maximized when:

a. average benefits and marginal benefits are equal

b. marginal benefits are less than marginal costs

c. total benefits are equal to total cost

d. marginal benefits equal marginal costs

e. marginal benefits are greater than marginal costs

Reference no: EM13852659

Questions Cloud

Projected economic gains from free trade : "The theory of comparative advantage (and the associated projected economic gains from free trade) is a well-known economic theory, but what happens in the real world is closer to the opposite.

Buyers to offer higher prices or persistent excess supply : Suppose the market for hamburgers is unregulated. That is, hamburger prices are free to adjust based on the forces of supply and demand. If a surplus exists in the hamburger market, then the current price must be ________(higher or lower?) than the e..

Assume that meat is sold in an unregulated market : U.S. government price supports for milk led to an unceasing surplus of milk. In an effort to reduce the surplus about a decade ago, Congress offered to pay dairy farmers to slaughter cows. Use two diagrams, one for the milk market and one for the mea..

Great expectations to the chosen to jurassic park : Vicki is shopping for books. She prefers Great Expectations to The Chosen and prefers The Chosen to Jurassic Park. She buys Great Expectations and Jurassic Park for a total of $30. Which of the following MUST be true?

Net social benefits are maximized when : Net social benefits are maximized when:

Most fundamental assumption in economics : Which of the following is the most fundamental assumption in economics?

How much is the equivalent present value of these payments : You purchased an immediate annuity which pays you $3,000 each year from next year for 15 years. Assuming interest rate is 5%, how much is the equivalent present value of these payments? The future value of $1,000 saved for 20 years at 5% interest is:

Nominal money supply considerably for several years : Suppose a central bank has increased its nation's nominal money supply considerably for several years in a row, but without any increase in inflation. Over the same time, suppose its economy has not grown. Assume the economy is initially in a long-te..

Insurance benefits are not taxable as wages : When medical care is reimbursed through employer provided insurance whose welfare is ultimately affected when cost of medical care rises: the owners of the firm that pays the premiums, the government whose revenues are reduced because insurance benef..

User Account

All Pages