8.2 Venn Diagrams and Operati X Lesson 8.2 Certify Mode Quest X Assessment - Microeconomics x C | Chegg.com achieve.macmillanlearning.com/courses/b0eaa710-caed-42a2-9051-c72f8f322c2a/4/ds5xz2/tools/assessment/items/a0a3903d-0c85-470b-8dd5-c3f9627340b1... Assessment 10 of 18 Questions Assignment Score: 90.1% 4 Question 79.3% 5 of Attempts 5 Question 1 of Attempts 100% Correct 6 Question 4 of Attempts 85% Correct Resources Give Up? Hint Check Answer Externalities and Public Goods - End of Chapter Problem The accompanying graph illustrates a market for cigarettes. a. Place point A at the equilibirum outcome. Place point B at the socially efficient outcome. 10 7 Question 97% 2 of Attempts Correct g 8 8 Question 96.7% 2 of Attempts 7 Correct 6 9 Question 96.3% 2 of Attempts Correct 4 10 Question 0% 3 0 of Attempts 2 11 Question 100% 1 of Attempts 1 Correct 12 Question 98.3% 2 of Attempts Correct ? 13 Question 100% 30 Market for cigarettes 60 Marginal social cost Marginal private cost (supply) B Demand 90 120 150 180 210 240 Quantity of cigarettes (millions of packs) 8.2 Venn Diagrams and Operati X Lesson 8.2 Certify Mode Quest X Assessment - Microeconomics x Post a new question + achieve.macmillanlearning.com/courses/b0eaa710-caed-42a2-9051-c72f8f322c2a/4/ds5xz2/tools/assessment/items/a0a3903d-0c85-470b Low Battery Your Mac will sleep soon unless plugged into a power outlet. Close Assessment 10 of 18 Questions Assignment Score: 90.1% 4 Question 79.3% b. Determine the equilibrium price and quantity in this market. 5 of Attempts 5 Question 1 of Attempts 100% Correct 6 Question 4 of Attempts 85% Correct 7 Question 2 of Attempts 97% Correct equilibrium price: $ equilibrium quantity: Resources Give Up? Hint Check Answer 8 Question 2 of Attempts 96.7% Correct c. Determine the socially efficient price and quantity in this market. 9 Question 96.3% 2 of Attempts Correct socially efficient price: $ 10 Question 0% 0 of Attempts 11 Question 100% socially efficient quantity 1 of Attempts Correct million packs million packs 12 Question 98.3% 2 of Attempts Correct d. The graph implies that cigarettes produce a externality. The marginal external of smoking ? 13 Question 100% is