The Desirable Level of Output in a Perfectly Competitive Market

question 70

Multiple Choice

The desirable level of output in a perfectly competitive market if there exists a detrimental externality is

• A)the point at which MSC curve intersects the marginal revenue curve.
• B)the point at which MSC intersects the MPC.
• C)the point at which MSC intersects MPC.
• D)the point at which marginal revenue curve intersects the MPC.

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Definitions:

Upstream Commerce

The activities involved in the sourcing and procurement processes before goods reach the retailer or final consumer.

Water Transportation

A method of transporting goods and people using waterways, including oceans, rivers, lakes, and canals, utilizing various types of vessels.

Road Transportation

The movement of goods and people from one place to another over roads, using vehicles such as cars, trucks, and buses.

War of 1812

The War of 1812 was a military conflict fought between the United States and the British Empire, primarily over maritime rights and territorial expansion, strengthening U.S. nationalism and leading to a period of peaceful relations.