Use the Figure Below to Answer the Following Questions

question 82

Multiple Choice

Use the figure below to answer the following questions.

Figure 16.2.1
-Refer to Figure 16.2.1. The figure shows the marginal private cost curve, the marginal social cost curve and the market demand curve. If the market is unregulated, then

• A)the quantity produced is efficient but price is too low.
• B)the quantity produced is less than the efficient quantity.
• C)the quantity produced is greater than the efficient quantity.
• D)the quantity produced is efficient but the price is too high.
• E)the externality is eliminated.

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Definitions:

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