Use the Figure Below to Answer the Following Questions

question 83

Multiple Choice

Use the figure below to answer the following questions.

Figure 16.2.1
-Refer to Figure 16.2.1. The figure shows the marginal private cost curve, the marginal social cost curve and the market demand curve. If the market is unregulated, then at the equilibrium output the marginal social cost of production is

• A)less than the marginal benefit to consumers.
• B)greater than the marginal benefit to consumers.
• C)equal to the marginal benefit to consumers.
• D)equal to the marginal private cost of production.
• E)less than the marginal private cost of production.

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Definitions:

Hue

The dimension of visual experience specified by color names and related to the wavelength of light.

Intensity

The degree of strength, force, or energy of a stimulus or behavior.

Amplitude

The height or strength of a wave signal, which in the context of sound refers to its loudness and in light, its brightness.

Sound Wave

A wave of compression and rarefaction, by which sound is propagated in an elastic medium such as air.