Question
An optimal monopoly will produce at the level where this quantity equals marginal revenue. For 10 points each:
[10e] Name this quantity, defined as the amount needed to produce one additional unit.
ANSWER: marginal cost [prompt on cost]
[10h] This concept can be thought of as the point where price equals marginal cost. This concept measures the broad degrees of usefulness of a product or sector.
ANSWER: allocative efficiency [prompt on efficiency]
[10m] This phenomenon is represented graphically by a negative slope to the marginal cost curve. This phenomenon occurs when the sum of the exponents in the Cobb-Douglas function is greater than 1.
ANSWER: increasing returns to scale
<RR>
Summary
| 2023 BHSU @ Berkeley | 03/18/2023 | Y | 3 | 13.33 | 100% | 33% | 0% |
| 2023 BHSU @ Maryland | 03/11/2023 | Y | 3 | 10.00 | 67% | 33% | 0% |
| 2023 BHSU @ Northwestern | 02/25/2023 | Y | 6 | 16.67 | 100% | 67% | 0% |
| 2023 BHSU Online | 04/15/2023 | Y | 4 | 12.50 | 100% | 25% | 0% |
| 2023 BHSU @ Sheffield | 04/15/2023 | Y | 2 | 5.00 | 50% | 0% | 0% |
Data
| Rutgers Diaspora | Fan-tastic Negs and Where to Find Them | 0 | 0 | 0 | 0 |
| The Perfection of Wisdom in 8,000 Negs | Maryland A | 10 | 0 | 10 | 20 |
| Glass Onyen: A Knives Out Mystery | Maryland B+ | 10 | 0 | 0 | 10 |