Use the Following to Answer Question(s): Model of a Competitive

question 14

Multiple Choice

Use the following to answer question(s) : Model of a Competitive Market

-(Exhibit: Model of a Competitive Market) If there are external costs:

• A) resources will be underallocated to the production of the good.
• B) resources will be overallocated to the production of the good.
• C) resources will be allocated efficiently to the production of the good.
• D) the price at P will be higher than if there were no external costs.

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Definitions:

Newspaper

A printed publication, usually issued daily or weekly, containing news, articles, advertisements, and other items of general interest.

Internet

The internet is a global network of computers that provides a vast range of information and communication facilities, including access to websites and the transmission of email and data.

Media

Various means of communication that reach or influence people widely, including newspapers, television, radio, the Internet, and other digital platforms.

Freedom

The power or right to act, speak, or think as one wants without hindrance or restraint.