<p>Can someone explain these questions:</p>
<p>Leather and beef are jointly produced such that an increase in the production of one results in an equal increase in the production of the other. An increase in the demand for leather will most liley cause:
A) A decrease in the price of leather
B) a decrease in the price of beef
C) a decrease in the equilibrium quantity of beef sold
D) an increase in demand for beef in the short run
E) An increase in supply of leather</p>
<p>Answer D. </p>
<p>An increase in the marginal social benefit of consuming a public good should result in
A) decrease in public production of good
B) increase in optimal quantity of good
C) decrease in optimal quantity of good
D) decrease in social costs associated with producing good
E) a decrease in social costs assoicated with consuming good</p>
<p>Answer B</p>
<p>An industry will produce more than socially efficient level of output under which condition?
A) production or consumption of good generates positive externality
B) production or consumption of good generates negative externality</p>
<p>Answer B</p>