Q1. In a competitive market, the gains to society are maximized under which of the conditions described below by marginal benefit, marginal cost, producer surplus, and consumer surplus, respectively? A) $1.50; $1.50; $45; $30. B) $2.50; $2.50; $35; $35. C) $1.00; $1.00; $15; $15.
Q2. Producer surplus is most accurately defined as the: A) sum of the differences between the price received for each unit of good produced and the opportunity cost of each unit. B) difference between the opportunity cost of producing the last unit of a good or service and the price received for that unit. C) sum of the differences between the marginal benefit and the marginal cost for each unit of good produced and consumed over the total number of units produced and consumed.
Q3. The minimum supply price, the lowest price at which a producer is willing to supply an additional unit of a good, is: A) the price at which producer surplus is maximized. B) less than the marginal revenue for the additional unit. C) the marginal cost of producing the additional unit. | 
发表于 2008-12-31 09:44
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