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Table 10-2

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-Refer to Table 10-2

Question 179

Multiple Choice

Table 10-2


 Quantity  (Units)   Private Value  (Dollars)   Private Cost  (Dollars)   Social Value  (Dollars)  151455724848543455151442544853957456366042\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Quantity } \\\text { (Units) }\end{array} & \begin{array} { c } \text { Private Value } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { Private Cost } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { Social Value } \\\text { (Dollars) }\end{array} \\\hline 1 & 51 & 45 & 57 \\\hline 2 & 48 & 48 & 54 \\\hline 3 & 45 & 51 & 51 \\\hline 4 & 42 & 54 & 48 \\\hline 5 & 39 & 57 & 45 \\\hline 6 & 36 & 60 & 42 \\\hline\end{array}
-Refer to Table 10-2. What is the socially optimal level of output in this market?


A) 4 units
B) 2 units
C) 3 units
D) 5 units

Correct Answer:

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