For a competitive market in long-run equlibrium to be Pareto-efficient... Select one: a. Firms do not make profits of any kind b. Marginal private costs are below marginal social costs c. Marginal private costs are above marginal social costs d. Marginal external costs are zero

Q: in long-ru

A: Pareto efficiency is when an economy has its goods and resources being allocated to the maximum…

Q: The market below depicts supply, demand and marginal social cost in the widget market. 1.00 0.90…

A: Externality is the external cost of production of a particular good. It can be both positive or…

Q: Which of the following indicate the marginal external cost and the socially optimal quantity? A…

A: The change in the cost to other individuals other than the producer or buyer of a particular good or…

Q: Utilizing market-based strategies, government can control contamination. By utilizing approaches,…

A: Government approaches to control contamination: (a) The prior to the entry of the new firms the…

Q: The market for plasticans is perfectly competitive. Market Supply is given by Q=8P and Market Demand…

A: Given Information: Market Supply : Q=8P Market Demand : Q=417-3P Negative Externality : $7

Q: The figure shows the marginal private cost and marginal social cost of producing bananas while using…

A: Marginal Social Cost (MSC) represents the additional cost imposed on society as a whole by producing…

Q: 5. PA-100 and the In a market for dry cleaning, the inverse market demand function is given by…

A: An externality is a cost or benefit that is not reflected in the market price of a good or service,…

Q: Refer to the diagram, in which S is the market supply curve and S is a supply curve comprising all…

A: Externality: - it is a cost or benefit generated for the third party by the actions of other people.

Q: An external cost can be calculated as the difference between Select one: a. the social cost of…

A: External costs are an essential concept in economics that helps us measure the broader impact of…

Q: Does the following activity or event create an extemality? If it does, is it an external benefit or…

A: An activity by others that affects other parties is known as external cost. It may be cost or…

Q: Cost (thousands of dollars per concert) MSC 100 80 60 MC 40 20 10 15 20 25 Quantity (concerts per…

A: The Marginal Private Cost (MPC) represents the producer's actual cost of production. The Marginal…

Q: a. Draw the social and market demand curves b. At 3.50 per pack, what quantity is demanded in the…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three subparts…

Q: a competitive market in long-run equlibrium to be Pareto-efficient... ect one: a. Firms do not make…

A: For a competitive market in a long running equilibrium to be pareto efficient, firm do not make any…

Q: Which of the following represents the true economic cost of production when firms produce goods that…

A: Externality can be classified into two parts, Positive externality and negative externality. In…

Q: A negative externality results when a 3rd party is negatively impacted by a transaction they were…

A: Negative Externality creates harmful effects of an activity on a third party. Positive externality…

Q: best example of a positive external benefit generated

A: A positive external benefit is the benefit which an individual can get in spite of being unrelated.…

Q: The following graph presents the marginal cost and marginal benefit information for tons of steel…

A: Private marginal cost is the additional cost incurred by the production of a unit of steel by a…

Q: Suppose Hawi lives alone. She has two pet hamsters; she likes the hamsters because they are cute.…

A: A cost or benefit that a producer incurs or receives but is not reimbursed for is known as an…

Q: When U.S. farmers in the Southwest irigate their land, salt in the ground sol leaks into the…

A: The externalities are the side effects of economic activities which  are faced by the third parties…

Q: The market below has an externality. Which area represents the total cost or benefit of the…

A: In a market, the society optimizes its social surplus by producing and consuming a unit of good…

Q: When Raising Cane’s Chicken Fingers restaurant opened in East Lansing, a line of 400 customers…

A: The issue here is to dissect a situation including financial dynamic standards connected with…

Q: Consider a market with free entry and exit where all fırms are identical and have the following TVC…

A: (a)  Efficient quantity Q1

Q: e?  A. the firm produces based on the private marginal benefit and private marginal cost B. the…

A: Under private equilibrium, private cost is equal to private benefit. At social optimal point, Social…

Q: The market for plasticans is perfectly competitive. Market Supply is given by Q=4P and Market Demand…

A: Externality refers to the external costs or benefits imposed on someone without their concern.…

Q: Explain the "Externalities theory" in general Explain the concept of "social marginal cost" Give one…

A: 1.Externalities means,the cost which are not directly associated to a certain action.Externality may…

Q: You are an industry analyst that specializes in an industry where the market inverse demand is P =…

A: Since you have posted a question with multiple sub parts, we will provide solution only to the first…

Q: A natural spring runs under land owned by ten people. Each person has the right to sink a well and…

A: In economics, a negative externality is a cost or harm imposed on a third party by an economic…

Q: Question 20 Figure 2 reflects the market for outdoor concerts in a public park surrounded by…

A: Social cost includes all the cost the incurred during production and cost incurred by society.

Q: Price and cost (dollars per unit) Curve I Curve 2 Quantity (units per day) Which of the following…

A: Competitive markets behave inefficiently from a society point of view due to the externality and…

Q: If the external marginal cost from Booming Berries is $20 per thousand pounds, what is the socially…

A: The negative externality will shift supply curve leftward by $20, to S1, as shown below.

Q: Refer to the diagram, in which S is the market supply curve and S, is a supply curve comprising all…

A: Given in the question S is the market supply function and S1 is the supply after considering the…

Q: Consider the market for fire extinguishers. d. If the external benefit is $10 per extinguisher,…

A: When a transaction involving a When a transaction involving a buyer and a seller has an effect on a…