Use the following to answer questions:
Figure: Market Failure 
-(Figure: Market Failure) Look at the figure Market Failure. Suppose it represents the demand for and marginal cost per pound of shrimp in the bay. The additional cost of the shrimp due to the depletion of the common resource is equal to AC. The output of F is _____ because the marginal social benefit is _____ the marginal cost.
Definitions:
Syllogism
A form of reasoning in which a conclusion is drawn from two given or assumed propositions (premises), each of which shares a common or middle term not present in the conclusion.
Figure
An object's shape, outline, or representation in art or mathematics, or a notable person in a particular field.
Syllogism
A form of reasoning in which a conclusion is drawn from two given or assumed propositions (premises); a logical structure that uses three parts.
Middle Term
In a categorical syllogism, the term that appears in both premises and links together the major and minor terms.
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