When a Production Externality Has a Beneficial Effect on a Bystander

question 120

Multiple Choice

When a production externality has a beneficial effect on a bystander at the market equilibrium:

• A) society is unlikely to benefit from production subsidies
• B) the social cost of production is less than the private cost
• C) the private benefit from consumption is less than the social cost of production
• D) none of the above is true

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