Multiple Choice
Suppose external benefits are present in a market which results in the actual market price of $49 and market output of 800 units. How does this outcome compare to the efficient, ideal equilibrium?
A) The efficient price would be higher than $49.
B) The efficient price would be lower than $49.
C) The efficient price would also be $49.
D) The efficient output would be less than 800 units.
Correct Answer:
Verified
Correct Answer:
Verified
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