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Table 18-3 The table shows the demand schedule for a particular product. Quantity Demanded (Units) Price (Dollars per unit) 0 16 1 14 2 12
Table 18-3 The table shows the demand schedule for a particular product. Quantity Demanded (Units) Price (Dollars per unit) 0 16 1 14 2 12 3 10 4 8 5 6 6 4 7 2 8 0 Refer to Table 18-3. If the marginal cost of production in this market is $4, what is the socially efficient quantity of output? a. 4 units b. 5 units c. 3 units d. 6 units
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International Economics
Authors: Dennis Appleyard, Alfred Field
8th Edition
978-0078021671, 0078021677
