Table 10-2 the Following Table Shows the Private Value, Private Cost, and Cost

question 329

Multiple Choice

Table 10-2
The following table shows the private value, private cost, and social value for a market with a positive externality.
-Refer to Table 10-2. What is the equilibrium quantity of output in this market?

• A)3 units
• B)4 units
• C)5 units
• D)6 units

---

Definitions:

Ownership Rights

Legal rights that confer the ability to use, control, and dispose of property or assets.

Passing of Title

The formal process of transferring ownership rights of a property from one entity to another.

Seller

The party that sells or agrees to sell goods or services to another party (buyer) in a commercial transaction.

Price

The amount of money expected, required, or given in payment for something.