Refer to the Figure Below

question 183

Multiple Choice

Refer to the figure below. At the market equilibrium quantity, the social marginal cost of the last ton of paper produced is ________ the marginal benefit of the last ton of paper produced.

• A)less than or equal to
• B)equal to
• C)less than
• D)greater than

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Definitions:

Proposition

A comment that denotes a judgment or viewpoint.

Consequent

In logic, this refers to the outcome in a conditional statement, which follows from its condition (if-then statement).

Proposition

A proposition is a statement or assertion that expresses a judgment or opinion.

Syllogism

A form of deductive reasoning that arrives at a conclusion based on two premises, where each shares a common term.