Question: Question 50 The folowing table shows the private value, private cost, and external cost for various quantities of output in a market. QuantityPrivateValuePrivate CostExternalCost 1$14$10$4

Question 50

The folowing table shows the private value, private cost, and external cost for various quantities of output in a market.

QuantityPrivateValuePrivate CostExternalCost

1$14$10$4

2$13$11$4

3$12$12$4

4$11$13$4

5$10$14$4

6$9$15$4

7$8$16$4

What is the socially optimal quantity of output in this market?

a.1 unit.

b.3 units.

c.2 units.

d.4 units.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

please answer B Question Help The folowing table gives the number of parts of type A blood used at Damascus Hospital in the past 6 weeks o les 345 370 408 Week or Pints Used August 31 September...

Q:

Question 5 0 2 pts Table 1 6 - 1 \ table [ [ Year , Potential Real GDP , Real GDP , Price Level ] , [ 2 0 2 0 , $ 1 8 . 0 trillion,$ 1 8 . 0 trillion, 1 5 0 ] , [ 2 0 2 1 , 1 8 . 5 trillion, 1 8 . 2...

Q:

Question 5 0 2 pts Table 1 7 - 1 8 . Amy and Heather are two college roommates who both prefer a clean common space in their dorm room, but neither enjoys cleaning. The roommates must each make a...

Q:

Question 5 0 1 pts Table 2 1 - 3 The Distribution of Income in Edgerton \ table [ [ Group , Annual Family Income ] , [ Bottom Quintile,$ 2 8 , 0 0 0 and below ] , [ Second Quintile,$ 2 8 , 0 0 0 - $...

Q:

hopefully this is vkear enough Please txt 484-626-3013 for additonal work and compensation It will show up! dont need to calvulate amt but It's 600,000 and 1200000. thanks HW Score: 0%, 0 of tpt...

Q:

its the 11 part , not 12. INTEGRATIVE CASE 7.1 Walmart It is common practice for retail outlets to lease their store locations and distribution centers. Walmart is no exception. Note 11 to Walmart's...

Q:

for all ques... Question 1 - Varianc... Question 2-Cash bu... B K J F C G D E The sales manager of HRH Pty Lad has estimated that even though the actual selling price in first quarter 2020 was lower...

Q:

6:10 (b) A substantial part of a logistcs company's freight traffic moves as a trailer-on-flatcars i.e. with truck trailers travelling most of the way on railroad flatcars). The required number of...

Q:

Hi can you please help me with this question. Score: 0 of 20 pts 11 of 14 (14 completa) HW Score: 60.05%, 58.85 of 98 pts X P22-42A (similar to) Roti Hain More Info Oirala Office Supply's March 31,...

Q:

Exercises K, L, M j. Consider Johnson & Johnson's "Other benefits" plans, as detailed on page 62 of the company's annual report. i. What is the total obligation for other benefits at December 2007?...

Q:

Show that the diffractive spread of a laser beam /D as described in Section 28-11 is precisely what you might expect from the uncertainty principle.

Q:

Two long pipes, one having a 10-cm-OD and a surface temperature of 300?C, the other having a 5-cm-OD and a surface temperature of 100?C, are buried deeply in dry sand with their centerlines 15 cm...

Q:

uickBooks Online Payroll Certification: Wages and taxes exam Question 14 How can a business configure employee wages to post to separate accounts? Select an option, and then select Submit. There is...

Q:

To enhance the reliability of information, it should also be verifiable, which means that it is relatively free of error and bias. Select one: True False

Q:

Understand human resources role in performance appraisals

Q:

Have a better understanding of a managers role in the employment process and what occurs behind the scenes in human resources

Q:

View cross-training as a means for improving employee capability and departmental effectiveness