-The figure above shows the marginal social cost curve of generating electricity,the marginal private cost curve,and the demand curve.If the market is competitive and unregulated,the equilibrium price is ________ per kilowatt hour and the equilibrium quantity is ________ billions of kilowatt hours per day.
A) 10¢; 200
B) 15¢; 150
C) 20¢; 200
D) 20¢; 100
E) 7.5¢; 150

Question

-The figure above shows the marginal social cost curve of generating electricity,the marginal private cost curve,and the demand curve.If the market is competitive and unregulated,the equilibrium price is ________ per kilowatt hour and the equilibrium quantity is ________ billions of kilowatt hours per day.
A) 10¢; 200 
B) 15¢; 150 
C) 20¢; 200 
D) 20¢; 100 
E) 7.5¢; 150

Quizplus · Accepted Answer

The equilibrium price is where the demand curve intersects the marginal private cost curve, which is at 10¢ per kilowatt hour. The equilibrium quantity is where the demand curve intersects the marginal social cost curve, which is at 200 billions of kilowatt hours per day.

-The Figure Above Shows the Marginal Social Cost Curve of Generating