Suppose External Benefits Are Present in a Market Which Results

question 32

Multiple Choice

Suppose external benefits are present in a market which results in the actual market price of $14 and market output of 150 units. How does this outcome compare to the efficient, ideal equilibrium?

• A) The efficient outcome would be greater than 150 units.
• B) The efficient outcome would be less than 150 units.
• C) The efficient outcome would also be 150 units.
• D) The efficient price would be less than $14.

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Definitions:

Behaviorally Related

Pertains to how consumer actions and decisions are influenced by behavioral factors, often studied in marketing to develop strategies that align with consumer behavior patterns.

Product Knowledge

Understanding and information about a product, including its features, uses, and benefits, possessed by those marketing, selling, or using it.

Customer Service

The assistance and support provided by a company to those people who buy or use its products or services.

Number Of Sales Calls

The total count of direct interactions, typically phone calls, made by sales representatives to potential or existing customers.