Multiple Choice
The harvesting of corn generates external costs in the form of methane gas emissions. In equilibrium:
A) too little corn will be harvested.
B) the price of a bushel of corn will be less than the marginal social cost of the last bushel of corn sold.
C) the price of a bushel of corn will be less than the marginal social benefit of the last bushel of corn sold.
D) the price of a bushel of corn will be less than the marginal cost of the last bushel of corn sold to the corn farmer who sold it.
Correct Answer:
Verified
Correct Answer:
Verified
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