Use the Following to Answer Question

question 123

Multiple Choice

Use the following to answer question:
Figure: Model of a Competitive Market
-(Figure: Model of a Competitive Market) Use Figure: Model of a Competitive Market.Given the figure,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 efficiently allocated to the production of the good.
• D)the price at P will be higher than if there were no external costs.

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Definitions:

Assumption of Risk

A legal principle where an individual knowingly and voluntarily takes on the risks associated with an activity.

Disclaimers

Statements that deny responsibility or limit liability for certain information, opinions, or potential risks.

Unfair Hiring Practices

Discriminatory or biased procedures in the recruitment process that unjustly favor one candidate over another.

Surveillance Cameras

Electronic devices used for monitoring activities in various environments to enhance security, gather evidence, or observe behavior.