-The Figure Above Shows the Marginal Social Cost Curve of Generating

question 133

Multiple Choice

-The figure above shows the marginal social cost curve of generating electricity,the marginal private cost curve,and the demand curve.If the market is competitive and unregulated,the equilibrium quantity is ________ billion kilowatt hours per day and the efficient quantity is ________ billion kilowatt hours per day

• A) 150; 200
• B) 200; 150
• C) 0; 150
• D) 250; 0
• E) 150; 150

---

Definitions:

Materials Price Variance

The difference between the actual cost of materials and the expected cost based on standard pricing, used to evaluate cost management.

Purchasing Department

A division within a business that is responsible for acquiring goods and services needed for operations.

Standard Cost

A predetermined cost of manufacturing a product or providing a service, used for budgeting and performance evaluation.

Predetermined Cost

An estimated cost calculated in advance of production, used for budgeting and cost control purposes.