If There Are No Externalities, Producing Where Price Is Greater

question 7

True/False

If there are no externalities, producing where price is greater than marginal cost is inefficient because for every unit produced, consumers derive benefits that are less than the cost of the resources needed to produce it.

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Definitions:

Phenothiazines

A group of antipsychotic drugs used to treat mental disorders by modifying nerve impulses in the brain.

Polygenic Process

The influence of multiple genes on the development of traits or diseases, indicating a complex genetic inheritance pattern.

Genetic Abnormalities

Variations or mutations in an organism's DNA that can lead to diseases or conditions.