When the Production of a Good Has an External Cost,the

question 106

Multiple Choice

When the production of a good has an external cost,the

• A)marginal social cost curve lies below the marginal private cost curve.
• B)marginal social benefit curve lies above the marginal private benefit curve.
• C)equilibrium quantity in an unregulated, competitive market has a marginal social cost greater than the marginal social benefit.
• D)equilibrium quantity in an unregulated, competitive market has a marginal social cost less than the marginal social benefit.
• E)none of the above.

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