Multiple Choice
Use the figure below to answer the following questions.
Figure 16.3.1
-Refer to Figure 16.3.1. The figure shows the marginal private benefit curve, the marginal social benefit curve, and the market supply curve. If production is left to the private market, then
A) the quantity produced is less than the efficient quantity.
B) the quantity produced is greater than the efficient quantity.
C) price is greater than marginal social benefit quantity.
D) the marginal cost curve is horizontal.
E) the quantity produced is zero.
Correct Answer:
Verified
Correct Answer:
Verified
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