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Underproduction Compared to the Efficient Amount Implies That for the Last

Question 3

Multiple Choice

Underproduction compared to the efficient amount implies that for the last unit produced


A) marginal social benefit exceeds marginal social cost.
B) marginal social benefit equals marginal social cost.
C) marginal social cost exceeds marginal social benefit.
D) the deadweight loss is zero.

Correct Answer:

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