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ECON 2P03 Lecture Notes - Lecture 6: Demand Curve

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limewolf4
15 Mar 2018
School
McMaster University
Department
Economics
Course
ECON 2P03
Professor
Krishnakali Sen Gupta

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Document Summary

Social benefits might exceed private benefits, demand curve is actually ds, quantity is too low (qp

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Related Questions

20. The social benefits of fertility exceed the private benefits due to A. an intergenerational trading externality, and so fertility is too high from a social perspective. B. unpriced consumption and production externalities, and so fertility is too low from a social perspective. C. an intergenerational trading externality, and so fertility may be too low from social perspective. D. unpriced consumption and production externalities, and so fertility may be too high from a social perspective.

A market demand curve reflects the
Ā 
A. Sum of private and social benefits of consuming a product.
B. External benefits of consuming a product.
C. Private benefits of consuming a product.
D. Social benefits of consuming a product.

Use the figure below to answer the following question. clonario Price (dollars per unit or to divert com Surplus avan others D 293 QC Quantity lunits per day! Figure 6 29) Refer to Figure 6. The figure shows the marginal private cost curve, the marginal social cost curve and the market demand curve. If the market is unregulated, then the quantity produced is A) Q2 B) 1 C) too low D 03 E) zero