Multiple Choice
Use the following to answer question(s) : Model of a Competitive Market
-(Exhibit: Model of a Competitive Market) If there are external costs:
A) resources will be underallocated to the production of the good.
B) resources will be overallocated to the production of the good.
C) resources will be allocated efficiently to the production of the good.
D) the price at P will be higher than if there were no external costs.
Correct Answer:
Verified
Correct Answer:
Verified
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