Table 10-4​Quantity(Units)Private Value(Dollars)Private Cost(Dollars)External Cost(Dollars)1 46 21 62 44 24 63 42 27 64 40 30 65 38 33 66 36 36 67 34 39 6​​​Refer to Table 10-4. The table represents a market in whichGroup of answer choicesThe answer cannot be determined from inspection of the table.there is a positive externality.there is no externality.there is a negative externality.

Select the correct answerIf the cost price of 15 tables be equal to the selling price of 20 tables, the loss per cent is?Options20%25%37.50%30%

Consider a good with external costs. Which of the following best describes why the market does not produce an allocatively efficient amount?Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.aThe marginal benefit to consumers exceeds the marginal private cost of production and the marginal social cost of production.bThe marginal social cost exceeds the marginal social benefit.cThe marginal social benefit exceeds the marginal social cost.dThe marginal private cost of production and the marginal social cost exceed the marginal benefit to consumers.Unanswered2 attempts left

Table 9.3. Quantity Price(dollars)Total Revenue(dollars)Total Variable Cost(dollars)Total Cost(dollars) 0 21 0 050 1 20 20 16 66 2 19 38 31 81 3 18 54 45 95 4 17 68 59109 5 16 80 75125 6 15 90 93143 7 14 98112162 8 13104140190 9 12108180230 10 11110230280 Table 9.3 shows the demand and cost schedules for a monopolistically competitive firm.Refer to Table 9.3. What is the best course of action for the firm in the short run?  It should not cut its price, but it should increase its sales by advertising. You Answered  It should increase its sales by lowering its price.   It should shut down. Correct answer  It should stay in business because it covers some of its fixed cost.

When externalities are present, the socially optimal outcome occurs where the _____ benefit equals the _____ cost.Question 3Answera.marginal external; marginal externalb.marginal social; marginal socialc.total social; total sociald.total external; total external

If companies who internalised an externality want to supply less at any given price compared to the original market supply, it must be a:Question 2Select one:A.Social externality.B.Positive externality. C.Negative externality.D.Network externality.