Multiple Choice
Which of the following statements is NOT true in the presence of externalities?
A) Social marginal cost equals the sum of internal and external marginal costs.
B) A competitive industry generally produces more than a monopoly.
C) A competitive industry always produces more than the socially efficient level of output.
D) A monopoly always produces more than the socially efficient level of output.
Correct Answer:
Verified
Correct Answer:
Verified
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