The Figure Given Below Shows the Demand and Supply Curves

question 35

Multiple Choice

The figure given below shows the demand and supply curves of steel. S_p is the private supply curve, and S_s is the social supply curve that includes both private costs and external costs.Figure 13.2

-According to Figure 13.2:

• A)both points a and b are socially efficient.
• B)both points a and b are inefficient, from the society's point of view.
• C)point a represents the social equilibrium, whereas point b represents the private equilibrium.
• D)point a represents the private equilibrium, whereas point b represents the social equilibrium.
• E)when external costs are zero, the socially efficient output level is equal to 0Q_s units.

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Definitions:

Activation-Synthesis

A theory proposing that dreams result from the brain's attempt to make sense of neural activity that occurs during sleep, particularly during REM sleep phases.

Consolidation

The process by which short-term memories are transformed into long-term memories, making them more stable and enduring.

Adaptive Function

The beneficial role a behavior plays in the survival and reproductive success of an organism.

Neural Connections

The synapses or links between neurons in the brain, allowing for communication and signal transmission.