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-Refer to the Above Figure

Question 164

Multiple Choice

-Refer to the above figure. S1 is the supply curve that includes only private costs. S2 is the supply curve that includes social costs. From this figure we know that A) an external benefit exists. B) private costs are less than social costs. C) private costs equal social costs. D) private costs are greater than social costs.
-Refer to the above figure. S1 is the supply curve that includes only private costs. S2 is the supply curve that includes social costs. From this figure we know that


A) an external benefit exists.
B) private costs are less than social costs.
C) private costs equal social costs.
D) private costs are greater than social costs.

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