Figure 11.2.1 Chemical Fertilizer Market Marginal Social Marginal Private Marginal Social Output Benefit Cost Cost (units) (MSB) (MPC) (MSC) 0 $80 $0 $20 1 $70 $10 $30 2 $60 $20 $40 3 $50 $30 $50 4 $40 $40 $60 5 $30 $50 6 $20 $60 $70 $80 Figure 11.2.1 shows the marginal social benefit from using fertilizer and the marginal private cost and marginal social cost of producing fertilizer. The marginal private benefit is the same as the marginal social benefit. If the market is unregulated, the marginal ○ A. social cost equals the marginal private benefit. B. private cost equals the marginal social benefit. O C. social cost equals the marginal private cost. ○ D. private cost is less than the marginal social benefit. O E. private cost is greater than the marginal social benefit.

Figure 11.2.1 Chemical Fertilizer Market Marginal Social Marginal Private Marginal Social Output Benefit Cost Cost (units) (MSB) (MPC) (MSC) 0 $80 $0 $20 1 $70 $10 $30 2 $60 $20 $40 3 $50 $30 $50 4 $40 $40 $60 5 $30 $50 6 $20 $60 $70 $80 Figure 11.2.1 shows the marginal social benefit from using fertilizer and the marginal private cost and marginal social cost of producing fertilizer. The marginal private benefit is the same as the marginal social benefit. If the market is unregulated, the marginal ○ A. social cost equals the marginal private benefit. B. private cost equals the marginal social benefit. O C. social cost equals the marginal private cost. ○ D. private cost is less than the marginal social benefit. O E. private cost is greater than the marginal social benefit.

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter7: Consumer Choice And Elasticity

Section: Chapter Questions

Problem 8CQ

See similar textbooks

Similar questions

What impact does AI have in healthcare and how does it play a factor in the economy? Please provide the explanation in detail and source of information.
Discuss the dominant components of healthcare.
3. Given the following table| Life expectancy 20 years 20.5 years 20.6 years 21 years 22 years 22.2 years Treatment Cost of treatment No treatment Drug A Drug B Drug C Drug D Drug E $40,000 $30,000 $50,000 $80,000 $100,000 (a) Calculate the average cost-effectiveness ratio for drug A, B, C, D, E (b) Calculate the ICER between drug B and drug C, and between drug E and drug D. (c) Draw a cost-effectiveness frontier, where Y axis represents effectiveness, X axis represents cost.
what is the relationship between the financial well-being of the industry and availability of healthcare, in consideration of market and demand theories?
How does its structure, conduct, and performance of the pharmaceutical industry impact patients?
(b) How is the horizontal form of communication more prominent in Intermountain Healthcare?
Why is it important for decision-makers in a county council to take cost-effectiveness into account when making decisions tointroduce a new treatment in the county council?
What impact does the allocation of resources within a local health district have on the overall economic efficiency and equity within the community? If AI generated, will downvote and report your answer.
do this ignore leacture information
DEF only please
discuss about negative impact in Cambodia's garment industry before Covid-19.
A medical reported that the consumption of this product has many health benefits Describe how does this would affect the market for the product.