Q1. If the marginal benefit of the last unit of a good or service consumed was $25, the marginal benefit of the next unit consumed is most likely to be: A) $25. B) $26. C) $24.
Q2. Marginal benefit is most accurately described as the: A) benefit from producing one more unit of a good or service. B) benefit that must be forgone in order to consume an additional unit of a good or service. C) benefit an individual gets from consuming an additional unit of a good or service.
Q3. Marginal cost is most accurately defined as the: A) cost of producing one more unit of a good or service. B) cost that a consumer must incur to consume an additional unit of a good or service. C) value of the good or service that a consumer must forego in order to consume an additional unit of a good or service.
Q4. columnist is discussing how the efficient quantity of output for a good or service is determined. These two statements appear in his column: Statement 1: The equilibrium quantity of production for a good or service can be considered efficient as long as the marginal social benefit of that quantity is greater than its marginal social cost. Statement 2: Subsidies and quotas typically result in production of a good or service in quantities at which the marginal social cost exceeds the marginal social benefit. With respect to these statements: A) both are correct. B) only one is correct. C) both are incorrect. | 
发表于 2008-12-31 09:42
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