Refer to the Diagrams Below in Which Figures (A) and (B)

question 62

Multiple Choice

Refer to the diagrams below in which figures (a) and (b) show demand curves reflecting the prices Alvin and Elmer are willing to pay for a public good, rather than do without it.If the marginal cost of the optimal quantity of this public good is $10, the optimal quantity must be:

• A)1 unit.
• B)2 units.
• C)3 units.
• D)4 units.

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McCarran-Ferguson Act

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Nolo Plea

A legal plea where the defendant neither admits nor disputes a charge, allowing for a conviction without an admission of guilt.

Consent Decree

A legal agreement that resolves a dispute between two parties without admission of guilt, but with the court still retaining enforcement power.