Examlex
If there are no externalities, producing where price is greater than marginal cost is inefficient because for every unit produced, consumers derive benefits that are less than the cost of the resources needed to produce it.
Q63: To find the optimal level of provision
Q66: Refer to Figure 17.2. We would say
Q74: Refer to Figure 16.2. The marginal damage
Q78: Refer to Figure 17.1. Dmitri has two
Q89: Oligopolists compete on price but not quality.
Q94: The official poverty line in the United
Q109: The product differentiation of firms in an
Q211: Price will increase and output will decrease
Q232: Refer to Table 16.2. Suppose the government
Q273: If the government wishes to encourage firms