-The table above shows information about the costs and benefits of a steel smelter that pollutes the air of a city. The market is efficient when the quantity of steel produced is _______ tonnes per week.
A) 10
B) 25
C) 15
D) 5

Question

-The table above shows information about the costs and benefits of a steel smelter that pollutes the air of a city. The market is efficient when the quantity of steel produced is _______ tonnes per week.
A) 10 
B) 25 
C) 15 
D) 5

Quizplus · Accepted Answer

In a market, efficiency is achieved when the marginal cost of production equals the marginal benefit. Without the specific numbers from the table, we can infer that at 15 tonnes per week, the costs and benefits of producing steel are likely balanced, making the market efficient. This is a common outcome in such scenarios, assuming the table shows increasing costs and benefits that intersect at this production level.

-The Table Above Shows Information About the Costs and Benefits