Price and cost (dollars per pound) 10 MSC MC 2 MSB Quantity (hundreds of tons per week ) 46) The above figure shows the marginal private cost curve, marginal social cost curve, and marginal social benefit curve for cod, a common resource. The market equilibrium with no government intervention is A) 0 tons per week C) 300 tons per week B) 400 tons per week D) None of the above answers is correct. 47) The distribution of world income is A) more equal than the distribution of U.S. income. B) the same as C) less equal than D) not comparable to Wage rate (dollars per hour) MCL VMP = D 100 150 200 Labor (hours per day) 48) In the above figure, the competitive wage rate is and the quantity of labor is A) $7.00; 150 hours B) $8.00; 100 hours C) $6.00; 100 hours D) $8.00; 200 hours 49) If the interest rate is 5 percent, what is the present value of $100 that will be received 3 years from now? A) $115.00 B) $86.38 C) $90.70 D) $13.62