Suppose the Actions of the Producers of a Good Impose

question 85

Multiple Choice

Suppose the actions of the producers of a good impose an external cost which results in the actual market price of $25 and market output of 1,000 units. How does this outcome compare to the efficient, ideal equilibrium?

• A) The efficient price would higher than $25 while the efficient output would be less than 1,000 units.
• B) The efficient price would be higher than $25 while the efficient output would be greater than 1,000 units.
• C) The efficient price would be lower than $25 while the efficient output would be less than 1,000 units.
• D) The efficient price would be lower than $25 while the efficient output would be greater than 1,000 units.

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Definitions:

Deviant Behavior

Conduct that deviates from widely-held norms or values within a society, often causing negative reactions from others.

Burgess-Akers's Social Learning Theory

A perspective that emphasizes the role of socialization in learning deviant and criminal behavior through the observation of others.

Deviant Acts

Behaviors that violate societal norms or expectations, ranging from minor breaches of etiquette to serious criminal activities.

Reintegrative Shaming

A concept in criminal justice where an offender is made to understand the harm caused by their crime, promoting guilt and social reintegration.