What would be the socially optimal level of output

Assignment Help Business Economics

Reference no: EM133629877

Question

Consider a market given by the following supply and demand equations P=6+1Q P=95-2Q it is known that for every extra unit produced, society faces an extra cost of $2 per unit. What would be the socially optimal level of output?

Reference no: EM133629877

Questions Cloud

Summarize the cost-of-living dataset : This final project will summarize the Cost-of-Living dataset. Our group found relations between six different variables, Cost-of-Living Index, Rent Index

What is tariff : What is a tariff? What are three products that have tariffs on them? In your opinion, are they good or bad for our economy? Why or why not?

Consumption in order to increase aggregate demand : You are a policy maker and wish to increase consumption in order to increase aggregate demand.

Impact the supply or the demand curve : Consider the statement below. Select whether this will impact the supply or the demand curve.

What would be the socially optimal level of output : Consider a market given by the following supply and demand equations P=6+1Q P=95-2Q, What would be the socially optimal level of output?

New entrants is relatively low for energy drinks : The threat of new entrants is relatively low for energy drinks. Therefore we need to write one point for it.

Discuss the strategy of your bank : Discuss the strategy of your bank before the start of the competitive game and present the initial set of values to input in the game for the first quarter

Planned expenditure equals current output : AD = AS, planned expenditure equals current output and provides business revenue that covers current costs including expected profit.

Discouraged workers start looking for job : If 2 million of those who were previously classified as discouraged workers start looking for a job, the new labor force would be equal to.

User Account

All Pages