Suppose the Socially-Optimal Quantity of Good X Is 2,500 Units

question 74

Multiple Choice

Suppose the socially-optimal quantity of good x is 2,500 units and the market-equilibrium quantity of good x is 3,000 units. When 2,500 units of good x are produced, the

• A)external cost of good x exceeds the private value of good x.
• B)external cost of good x equals the private value of good x.
• C)social cost of good x exceeds the private value of good x.
• D)social cost of good x equals the private value of good x.

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Definitions:

Organizational Culture

This term describes the shared values, beliefs, and norms that influence the way employees think, feel, and behave within an organization.

External Audiences

Groups or individuals outside of an organization who are stakeholders or potential beneficiaries of the organization's communications or actions.

Advertising Skills

The abilities and techniques used to effectively promote and sell products or services through various forms of media.

Interpersonal Skills

Abilities used by a person to interact effectively with others, such as communication, empathy, and conflict resolution.