The Figure Below Shows the Marginal Benefit to Consumers,MB,the Marginal

question 113

Multiple Choice

The figure below shows the marginal benefit to consumers,MB,the marginal cost to private firms,MCP,and the marginal cost to society,MCS,at each level of output of some good.
FIGURE 17-1
-Refer to Figure 17-1.The price that would occur in a competitive market in the absence of government intervention is

• A)P1.
• B)P2.
• C)P3.
• D)P4.
• E)not possible to know from the information given.

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