Multiple Choice
Suppose external costs are present in a market which results in the actual market price of $50 and market output of 800 units. How does this outcome compare to the efficient, ideal equilibrium?
A) The efficient outcome would be greater than 800 units.
B) The efficient outcome would be less than 800 units.
C) The efficient outcome would also be 800 units.
D) The efficient price would be less than $50.
Correct Answer:
Verified
Correct Answer:
Verified
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