In the Figure Above,the Efficient Quantity of Satellites to Produce

question 156

Multiple Choice

In the figure above,the efficient quantity of satellites to produce is

• A) 200, because this is where marginal benefit equals marginal cost.
• B) 200, because this is where the market is in equilibrium.
• C) anywhere below 200, i.e., where marginal benefit exceeds marginal cost.
• D) anywhere above 200, i.e., where marginal benefit is below marginal cost.
• E) zero, because no one is willing to pay for satellites.

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Definitions:

Subtract

To take one number away from another, resulting in the difference between the two values.

Cognitive Development

The study of how children and adults develop and evolve in terms of thinking, reasoning, and understanding.

Water

A transparent, odorless, tasteless liquid compound of hydrogen and oxygen, H2O, essential for most plant and animal life and used by all living things.

Glass

A hard, brittle material typically made from silica, used in windows and other items for transparency and strength.