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Table 10-1
​ -Refer to Table 10-1

question 77

Multiple Choice

Table 10-1

 Quantity  (Units)   Private Value  (Dollars)   Private Cost  (Dollars)   External Cost  (Dollars)  128124226144324164422184520204618224716244\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Quantity } \\\text { (Units) }\end{array} & \begin{array} { c } \text { Private Value } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { Private Cost } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { External Cost } \\\text { (Dollars) }\end{array} \\\hline 1 & 28 & 12 & 4 \\\hline 2 & 26 & 14 & 4 \\\hline 3 & 24 & 16 & 4 \\\hline 4 & 22 & 18 & 4 \\\hline 5 & 20 & 20 & 4 \\\hline 6 & 18 & 22 & 4 \\\hline 7 & 16 & 24 & 4 \\\hline\end{array}
-Refer to Table 10-1. What is the socially optimal quantity of output in this market?


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