In the above figure, when 2000 bicycles are produced each month, we can see that
A: the marginal benefit from another bicycle is greater than the marginal cost of another bicycle.
B: more bicycles should be produced to reach the allocatively efficient level of output.
C: the economy is very efficient at the production of bicycles because the marginal benefit exceeds the marginal cost.
D: Both answers A and B are correct.
A: the marginal benefit from another bicycle is greater than the marginal cost of another bicycle.
B: more bicycles should be produced to reach the allocatively efficient level of output.
C: the economy is very efficient at the production of bicycles because the marginal benefit exceeds the marginal cost.
D: Both answers A and B are correct.
举一反三
- In the above figure, if 4000 bicycles are produced per month, A: marginal benefit is greater than marginal cost. B: fewer bicycles should be produced to reach the allocatively efficient level of output. C: the marginal cost of production is 2 bottles of soda per bicycle. D: Both answers A and B are correct.
- When<br/>the marginal benefit and marginal cost of sodas are equal, then<br/>____. A: the<br/>production of sodas might be allocatively efficient but it is<br/>definitely production inefficient B: the<br/>allocatively inefficient amount of sodas is being produced C: more<br/>sodas should be produced to reach the allocatively efficient quantity D: the<br/>allocatively efficient amount of sodas is being produced
- A<br/>rational decision maker takes an action only if the() A: marginal benefit is less than the marginal<br/>cost. B: marginal benefit is greater than the<br/>marginal cost. X C: average benefit is greater than the average<br/>cost. D: marginal benefit is greater than both the<br/>average cost and the marginal cost.
- A country produces only pencils and erasers. Pencil production is allocatively efficient if the marginal ________ of a pencil equals the marginal ________ of ________. A: cost; benefit; an eraser B: cost; cost; an eraser C: benefit; benefit; an eraser D: benefit; cost; a pencil
- Monopolists will maximize profit by producing at an output level where which of the following conditions exists（） A: Price = marginal revenue = marginal cost. B: Price = demand = marginal revenue = marginal cost. C: Marginal revenue = marginal cost ＜ price.