Use the Table Below to Answer the Following Questions

question 111

Multiple Choice

Use the table below to answer the following questions.
Table 16.3.1

-Refer to Table 16.3.1. The table shows marginal private benefit and the marginal social benefit from the consumption of chemical fertilizer and the marginal social cost of the production of fertilizer. If production is left to the private market, then at the profit-maximizing output level, marginal

• A)social cost equals marginal private benefit.
• B)private cost is less than marginal private benefit.
• C)social cost is less than marginal private benefit.
• D)social cost is greater than marginal private benefit.
• E)social benefit is less than marginal private benefit.

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