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-Refer to Figure 5-3

Question 78

Multiple Choice

-Refer to Figure 5-3. At the equilibrium price of $15, consumers are willing to buy 80 pounds of tiger shrimp. Is this an economically efficient quantity? A) No, the marginal benefit of the 80th unit exceeds the marginal cost of the 80th unit. B) Yes, because marginal cost is zero at the 80th unit. C) Yes, because $15 is the price where the marginal benefit is equal to the marginal cost. D) No, the marginal cost of the 80th unit exceeds the marginal benefit of the 80th unit.
-Refer to Figure 5-3. At the equilibrium price of $15, consumers are willing to buy 80 pounds of tiger shrimp. Is this an economically efficient quantity?


A) No, the marginal benefit of the 80th unit exceeds the marginal cost of the 80th unit.
B) Yes, because marginal cost is zero at the 80th unit.
C) Yes, because $15 is the price where the marginal benefit is equal to the marginal cost.
D) No, the marginal cost of the 80th unit exceeds the marginal benefit of the 80th unit.

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