The Figure Below Shows the Marginal Benefit to Consumers,MB,the Marginal

question 51

Multiple Choice

The figure below shows the marginal benefit to consumers,MB,the marginal cost to private firms,MCP,and the marginal cost to society,MCS,at each level of output of some good.
FIGURE 17-1
-Refer to Figure 17-1.The equilibrium output that would occur in a competitive market in the absence of government intervention is

• A)zero.
• B)Q1.
• C)Q2.
• D)Q3.
• E)none of the above; there is no equilibrium output level.

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Definitions:

Nap in the afternoon

A short period of sleep taken during the afternoon to refresh one's energy levels and improve overall alertness and performance.

Drinking coffee

The act of consuming coffee, a beverage made from roasted and ground coffee beans, which is popular worldwide for its stimulating effect.

Sleep patterns

The habitual resting periods, including the timing, duration, and quality of sleep.

Exercising

Engaging in physical activities to sustain or improve health and fitness.