Use the Figure Below to Answer the Following Questions

question 99

Multiple Choice

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

• A)the quantity produced is less than the efficient quantity.
• B)the quantity produced is greater than the efficient quantity.
• C)price is greater than marginal social benefit quantity.
• D)the marginal cost curve is horizontal.
• E)the quantity produced is zero.

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Definitions:

Legislator

An elected official who is involved in the process of making or enacting laws.

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Johnson Amendment

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