-In the Above Figure, If the Market Is Competitive and Unregulated

question 115

Multiple Choice

-In the above figure, if the market is competitive and unregulated, then at the equilibrium amount of output the marginal social benefit is

• A) less than the marginal cost to producers.
• B) greater than the marginal social cost.
• C) equal to the marginal cost to producers.
• D) equal to the marginal private benefit from consumption.

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Definitions:

United States

A nation located in North America, made up of 50 states, a federal district, five significant autonomous territories, and a multitude of possessions, recognized for its vast economy and heterogeneous population.

Disposable Income

The amount of money that households have available for spending and saving after income taxes have been accounted for.

Inequality

The unequal distribution of income, wealth, opportunities, and other economic variables within a society.

Countries

Geographically and politically defined areas, recognized as distinct entities in political geography.