Which areas on the graph represent the net benefit to society at Anatole' original level of gas use? And at the socially efficient level?MSC$/unit|AFВMPCGMPB=M SBQ1Q2Q3unitsO At the original level of Anatol's consumption: A+B+C; At socially efficient level: FO D. At the original level of Anatol's consumption: A-B; At socially efficient level: EOC At the original level of Anatol's consumption: A-F; At socially efficient level: AO d. At the original level of Anatol's consumption:F; At socially efficient level: BQUESTIONSuppose you own two factories, A and B, which produce q* and q° units of a good, respectively. The factories have the following marginal cost of production functions:Mca = 8qa + 2Mcb =16g + 10Suppose that you are interested in minimizing the cost of producing a total of 16 units. The least cost approach would suggest that plant B produce:O a.1O b.5OC 9O d. 11

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Which areas on the graph represent the net benefit to society at Anatole' original level of gas use? And at the socially efficient level? „MSC $/unit BE MPC MPB=M SB Q1 Q2 Q3 units At the original level of Anatol's consumption: A+B+C; At socially efficient level: F At the original level of Anatol's consumption: A-B; At socially efficient level: E At the original level of Anatol's consumption: A-F; At socially efficient level: A d. At the original level of Anatol's consumption: F; At socially efficient level: B C.

Which areas on the graph represent the net benefit to society at Anatole' original level of gas use? And at the socially efficient level? „MSC $/unit BE MPC MPB=M SB Q1 Q2 Q3 units At the original level of Anatol's consumption: A+B+C; At socially efficient level: F At the original level of Anatol's consumption: A-B; At socially efficient level: E At the original level of Anatol's consumption: A-F; At socially efficient level: A d. At the original level of Anatol's consumption: F; At socially efficient level: B C.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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