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Question 57

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Use the following to answer questions below : Use the following to answer questions below : -Refer to the graph of marginal private cost (MPC) and marginal private benefit (MPB) . If consumption of this good gives rise to an external social cost equal to $3 per unit consumed, what is the socially optimal level of output? A) 4 B) 5 C) 6 D) 7
-Refer to the graph of marginal private cost (MPC) and marginal private benefit (MPB) . If consumption of this good gives rise to an external social cost equal to $3 per unit consumed, what is the socially optimal level of output?


A) 4
B) 5
C) 6
D) 7

Correct Answer:

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