Study guides, Class notes & Summaries

THE rule (and its variations): How is the optimal level of any activity (for consumers, firms or governments) determined? Marginal cost = marginal benefit On the 2x2 efficiency table: What effect on efficiency (total surplus) do government interventions have in a market in which originally the government had not intervened? Market works well - marginal benefit =marginal cost total surplus was maximized, and the government intervenes things will go wrong and vice versa (if it's not broke don...

CSU AREC 202 FINAL Exam Tested Questions & Revised Correct Answers THE rule (and its variations): How is the optimal level of any activity (for consumers, firms or governments) determined? - ANSWER : Marginal cost = marginal benefit On the 2x2 efficiency table: What effect on efficiency (total surplus) do government interventions have in a market in which originally the government had not intervened? - ANSWER : Market works well - marginal benefit =marginal cost total surplus w...

CSU AREC 202 FINAL EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+

CSU AREC 202 FINAL EXAM QUESTIONS AND ANSWERS ALREADY PASSED THE rule (and its variations): How is the optimal level of any activity (for consumers, firms or governments) determined? Marginal cost = marginal benefit On the 2x2 efficiency table: What effect on efficiency (total surplus) do government interventions have in a market in which originally the government had not intervened? Market works well - marginal benefit =marginal cost total surplus was maximized, and the governme...