Marginal social cost (MSC)  Marginal private cost (MPC)  Mar…

Marginal social cost (MSC)  Marginal private cost (MPC)  Marginal external cost (MEC) Marginal social benefits (MSB)  Marginal private benefits (MPB)  Marginal external benefits (MEB) The socially optimal amount (output), or the efficient amount (output) is the amount at which _______________

The nurse practitioner auscultates a new, grade II, vibrator…

The nurse practitioner auscultates a new, grade II, vibratory, musical, mid-systolic murmur at the LLSB and apex,  in a 4-year-old child that is louder when the child is supine. The child has no other cardiac or respiratory findings and is growing normally. What type of murmur is most likely?  

Suppose that person A and B have a microeconomics class toge…

Suppose that person A and B have a microeconomics class together and they like to talk to each other during class. This activity has costs and benefits for this group (private costs and benefits). This group is disruptive to the learning environment for their classmates, and so their behavior imposes a cost on the rest of the class, termed an external cost. This group (i.e., person A and B) is imposing a ____________ on their other classmates.

(1)_____________ is nonrivalrous in consumption, that is, co…

(1)_____________ is nonrivalrous in consumption, that is, consumption by one person does not reduce the consumption by another person (2)_____________ is rivalrous in consumption, that is, consumption by one person reduces the consumption for another person.  

Marginal social cost (MSC)  Marginal private cost (MPC)  Mar…

Marginal social cost (MSC)  Marginal private cost (MPC)  Marginal external cost (MEC) Marginal social benefits (MSB)  Marginal private benefits (MPB)  Marginal external benefits (MEB) The above exhibit shows, as a shaded triangle, the net social cost of moving from the socially optimal output to the market output, when the socially optimal output is (1) ____________________ than the market output.  This is a case of  (2) ____________________