A) is the additional cost to the consumer of consuming another unit of a good. B) is equal to price times quantity sold. C) decreases as more of a good is produced and, hence, is depicted by a downward sloping curve. D) is the opportunity cost of producing one more unit of a good and, hence, is the same as the supply curve. A) is the additional cost to the consumer of consuming another unit of a good. B) is equal to price times quantity sold. C) decreases as more of a good is produced and, hence, is depicted by a downward sloping curve. D) is the opportunity cost of producing one more unit of a good and, hence, is the same as the supply curve.

Exam 5: Efficiency and Equity

-The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. There is no external benefit. What is the marginal benefit to the citizen of Kaffenia who consumes the four hundredth pound of coffee each day?

(Multiple Choice)

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Question 421

At the quantity of 1000 tacos, the marginal social benefit of a taco is $.50 and the marginal social cost is $.60. To produce the efficient quantity of tacos

(Multiple Choice)

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Question 422

One problem with the concept of utilitarianism is that

(Multiple Choice)

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Question 423

-The figure above shows the market for milk. If the efficient quantity of milk is produced, the consumer surplus is

(Multiple Choice)

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Question 424

Producer surplus is the ________ summed over the quantity sold.

(Multiple Choice)

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Question 425

What other curve is the same as the market supply curve? Why are the curves the same?

(Essay)

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Question 426

-The above figure shows the marginal social benefit and marginal social cost curves of doughnuts in the nation of Kaffenia. What is the marginal social benefit from the 300th dozen doughnuts each day?

(Multiple Choice)

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Question 427

Among the sources of economic inefficiency are all of the following EXCEPT

(Multiple Choice)

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Question 428

-Maria helps tutor students taking economics. The equilibrium price for tutoring is $15 per hour. Maria has determined her opportunity cost per hour to be $6 for the first, $9 for the second, $12 for the third, $15 for the fourth, and $18 for the fifth. How many hours will Maria tutor? Why this amount of hours? What, if any, is Maria's producer surplus?

(Essay)

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Question 429

Marginal social cost

(Multiple Choice)

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Question 430

A competitive market is always efficient.

(True/False)

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Question 431

-In the above figure, if the market produces the efficient amount of purses then producer surplus equals triangle

(Multiple Choice)

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Question 432

-The figure above shows the market for coffee. The price that producers must be offered to get them to produce 10 million pounds of coffee per month is .

(Multiple Choice)

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Question 433

Hummel is a line of figurines based on the artistic style of German nun Maria Innocentia Hummel and have become a collector's item. The Hummel figurines are almost uniformly "cute." Lukas, Felix, Anya, and Hannah sell Hummel figurines through the internet. Their willingness to sell price for one figurine is: Lukas $240, Felix $180, Anya $150, Hannah $130. Suppose the price of a Hummel figurine is $150, what is Felix's producer surplus?

(Multiple Choice)

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Question 434

The figure shows the competitive market for milk. -In the figure above, when the quantity of milk produced is 300 gallons per day, what is the deadweight loss?

(Multiple Choice)

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Question 435

If resources are used efficiently, then ________.

(Multiple Choice)

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Question 436

Underproduction compared to the efficient amount implies that for the last unit produced

(Multiple Choice)

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Question 437

How can a person argue that health care services in America are provided efficiently, but not fairly?

(Essay)

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Question 438

-The figure above shows the market for umbrellas in Sunville. When the market for umbrellas in Sunville is in equilibrium, what is the producer surplus?

(Multiple Choice)

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Question 439

-At the competitive market outcome in the above figure, the

(Multiple Choice)

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Question 440

Showing 421 - 440 of 450

-The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. There is no external benefit. What is the marginal benefit to the citizen of Kaffenia who consumes the four hundredth pound of coffee each day?

At the quantity of 1000 tacos, the marginal social benefit of a taco is $.50 and the marginal social cost is $.60. To produce the efficient quantity of tacos

One problem with the concept of utilitarianism is that

-The figure above shows the market for milk. If the efficient quantity of milk is produced, the consumer surplus is

Producer surplus is the ________ summed over the quantity sold.

What other curve is the same as the market supply curve? Why are the curves the same?

-The above figure shows the marginal social benefit and marginal social cost curves of doughnuts in the nation of Kaffenia. What is the marginal social benefit from the 300th dozen doughnuts each day?

Among the sources of economic inefficiency are all of the following EXCEPT

Marginal social cost

A competitive market is always efficient.

-In the above figure, if the market produces the efficient amount of purses then producer surplus equals triangle

-The figure above shows the market for coffee. The price that producers must be offered to get them to produce 10 million pounds of coffee per month is .

The figure shows the competitive market for milk. -In the figure above, when the quantity of milk produced is 300 gallons per day, what is the deadweight loss?

If resources are used efficiently, then ________.

Underproduction compared to the efficient amount implies that for the last unit produced

How can a person argue that health care services in America are provided efficiently, but not fairly?

-The figure above shows the market for umbrellas in Sunville. When the market for umbrellas in Sunville is in equilibrium, what is the producer surplus?

-At the competitive market outcome in the above figure, the

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, Preferences, and Choices

Organizing Production

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Public Choices, Public Goods, and Healthcare

Externalities

Markets for Factors of Production

Economic Inequality

Uncertainty and Information

Filters

Exam 5: Efficiency and Equity

-The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. There is no external benefit. What is the marginal benefit to the citizen of Kaffenia who consumes the four hundredth pound of coffee each day?

At the quantity of 1000 tacos, the marginal social benefit of a taco is $.50 and the marginal social cost is $.60. To produce the efficient quantity of tacos

One problem with the concept of utilitarianism is that

-The figure above shows the market for milk. If the efficient quantity of milk is produced, the consumer surplus is

Producer surplus is the ________ summed over the quantity sold.

What other curve is the same as the market supply curve? Why are the curves the same?

-The above figure shows the marginal social benefit and marginal social cost curves of doughnuts in the nation of Kaffenia. What is the marginal social benefit from the 300th dozen doughnuts each day?

Among the sources of economic inefficiency are all of the following EXCEPT

Marginal social cost

A competitive market is always efficient.

-In the above figure, if the market produces the efficient amount of purses then producer surplus equals triangle

-The figure above shows the market for coffee. The ________ price that producers must be offered to get them to produce 10 million pounds of coffee per month is ________.

The figure shows the competitive market for milk. -In the figure above, when the quantity of milk produced is 300 gallons per day, what is the deadweight loss?

If resources are used efficiently, then ________.

Underproduction compared to the efficient amount implies that for the last unit produced

How can a person argue that health care services in America are provided efficiently, but not fairly?

-The figure above shows the market for umbrellas in Sunville. When the market for umbrellas in Sunville is in equilibrium, what is the producer surplus?

-At the competitive market outcome in the above figure, the

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, Preferences, and Choices

Organizing Production

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Public Choices, Public Goods, and Healthcare

Externalities

Markets for Factors of Production

Economic Inequality

Uncertainty and Information

Filters

-The figure above shows the market for coffee. The price that producers must be offered to get them to produce 10 million pounds of coffee per month is .