Multiple Choice
If farmers decide individually whether or not to vaccinate their cattle against mad cow disease, which of the following is true?
A) The equilibrium quantity is too low for efficiency.
B) The equilibrium price and quantity are too high for efficiency.
C) The equilibrium price is efficient.
D) The equilibrium quantity is too high for efficiency.
E) The equilibrium price and quantity are efficient.
Correct Answer:
Verified
Correct Answer:
Verified
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