When a competitive market maximizes economic surplus, it implies that the rev: 05_10_2018 Multiple Choice marginal benefit of having the product is greater than the marginal cost. buyers are getting the maximum consumer surplus from the product. combined consumer and producer surplus is maximized. quantity demanded is lower than the quantity supplied

Suppose that a flower nursery benefits from having a butterfly farm located only a few miles away, because the presence of the insects greatly improves flower pollination. lawyers for the two companies meet to draft a legal document specifying the number of butterflies the farm promises to maintain in exchange for payments to be made by the nursery. which of the following types of private solutions to the externality of pollination has occurred in this case? charities moral codes and social sanctions integration of different types of businesses contracts it’s important to note that sometimes private solutions to externalities do not work. for example, this occurs when communications barriers or social customs are important enough relative to the potential gains involved that (a) the government must step in (b) the private solution is not feasible (c) the market system has a crisis

This chart shows the number of soldiers killed according to two different sources. source a is a book written by university professors. source b is from a well-known historical website. in a paragraph, explain why the data presented is different, and evaluate the reliability of each source. which should be used in a school research project, and why?

What is another name for the spanish navy in 1588? a) spanish royal fleet b) spanish armada c) spanish yacht crew d) spanish tall ships