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Business
Microeconomics Study Set 20
Quiz 5: Externalities,environmental Policy,and Public Goods
Refer to Figure 5-2
Question 22
Multiple Choice
Refer to Figure 5-2.The private profit maximizing quantity for the firm is A) Q
a
. B) Q
b
. C) Q
b
- Q
d
. D) Q
d
.
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Related questions
Q 23
Refer to Figure 5-2.The deadweight loss due to the externality is represented by the area A) abc. B) abf. C) abd. D) ade.
Q 24
Refer to Figure 5-2.The size of marginal external costs can be determined by A) S
2
+ S
1
at each output level. B) S
2
- S
1
at each output level. C) the supply curve S
2
. D) the supply curve S
1
.
Q 25
Refer to Figure 5-2.The marginal benefit of the last unit produced is represented by the price A) P
a
.
B) P
b
.
C) P
c
.
D) P
f
.
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