The Figure Given Below Shows the Demand and Supply Curves

question 85

Multiple Choice

The figure given below shows the demand and supply curves of steel.S_p is the private supply curve,and S_s is the social supply curve that includes both private costs and external costs. Figure 13.2
-According to Figure 13.2:

• A)both points a and b are socially efficient.
• B)both points a and b are inefficient.
• C)point a represents the social equilibrium,whereas point b represents the private equilibrium.
• D)point a represents the private equilibrium,whereas point b represents the social equilibrium.
• E)when external costs are zero,the socially efficient output level is equal to 0Q_s units.

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Definitions:

Adoption Studies

Research studies that compare adopted children to their adoptive families and biological families to understand the influence of genetic versus environmental factors on human development.

Genes

Segments of DNA located on chromosomes that carry the instructions for the development, functioning, growth, and reproduction of organisms.

Heredity

The passing of traits from parents to offspring through genetic information.

Genes

Units of heredity made up of DNA that act as instructions to make molecules called proteins.