In the Figure Given Below,the Competitive Supply Curve of a Commodity

question 86

Multiple Choice

In the figure given below,the competitive supply curve of a commodity is given by S₁,the private marginal benefit curve is D₁,the marginal social benefit curve is D₂,and the MB_E curve reflects the marginal external benefits.
-In Figure 20-2,the price level when the efficient output is being produced is _____ than the price level when the market equilibrium output is being produced by _____.

• A)less;$8
• B)more;$4
• C)less;$3
• D)more;$3

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Definitions:

Destinations

Locations or places toward which something or someone is going.

Coordinates

A set of values used to determine the position of a point or an object in a multi-dimensional space, typically using numbers along axes in a Cartesian plane.

Distribution Centre

A warehouse or facility dedicated to storing goods before they are distributed to retailers, wholesalers, or directly to consumers.

Retailer

A business that sells products directly to consumers.