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ECON 2010 FINAL

# Since texting while driving generates a negative

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Unformatted text preview: way to increase D) Ingrid's indifference curves are flat (horizontal lines) utility is to increase aqua herring 45. Since texting while driving generates a negative external effect (it makes the roads less safe for others), banning texting while driving would necessarily be efficiency increasing. A) True some negative external effects are no efficiency increasing when bannded B) False 46. Assume there are 5 identical firms in a perfectly-competitive market, each with the marginal cost curve MC=0.5Q. When the market price is 500, the total supply of this five-firm economy will be___. A) 250 Marginal cost= market price B) 1000 C) 5000 D) 500 500= .5Q Q=1000 there are 5 firms so 5 x 1000 =5000 Version 1 Page 10 Use the following to answer questions 47-50: >20 >20 >20 >20 >40 >30 >20 >10 >5 look for the spot where the marginal benefit=margianl cost 47. (Table: Total Cost and Total Individual Benefit) The table shows the total cost and total individual benefit of animal control for residents of a small town. If the 1000 residents act toge...
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