Multiple Choice
Suppose the firms in the chemical industry are allowed, free of charge, to dump harmful products into rivers. How will the price and output of the chemical products in a competitive market compare with their values under conditions of ideal economic efficiency?
A) The price would be too low, and the output would be too large.
B) The price would be too high, and the output would be too large.
C) The price would be too low, and the output would be too small.
D) The price would be too high, and the output would be too small.
Correct Answer:
Verified
Correct Answer:
Verified
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