If Social Values Are Not Reflected in the Market Values

question 13

Multiple Choice

If social values are not reflected in the market values determined by the market demand and market supply curves, the competitive market equilibrium output will ______________.

• A) always be the socially efficient level of output
• B) not be the socially efficient level of output
• C) always be higher than the socially efficient level of output
• D) always be lower than the socially efficient level of output

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