Use the figure below to answer the following questions. 
Figure 15.3.1
-Refer to Figure 15.3.1.The figure shows the marginal private benefit curve,the marginal social benefit curve,and the market supply curve.If production is left to the private market,then the price is
Definitions:
Homogeneous Oligopolists
A market structure where a few firms offer products or services that are similar in nature and hence are close substitutes for each other.
Differentiated Oligopolists
Firms within an oligopoly market structure that sell products or services that are distinguishable from each other through branding, quality, or other features.
Herfindahl Index
A measure of market concentration that squares and sums the market share percentages of all firms within an industry.
Four-Firm Concentration Ratio
The four-firm concentration ratio is a measure used to assess the competitiveness of a market by calculating the combined market share of the four largest firms within an industry.
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