In the Figure Given Below,D₁ and S₁ Are the Private

question 2

Multiple Choice

In the figure given below,D₁ and S₁ are the private demand and supply curves,of a commodity produced by a competitive firm.S₂ reflects the social marginal cost of production,while S₀ represents the external marginal cost.
-Refer to Figure 20-1.A comparison between the efficient outcome and the market equilibrium reveals that:

• A)the price level when the outcome is efficient is higher than the price at the market equilibrium by $30.
• B)the price level when the outcome is efficient is lower than the price at the market equilibrium by $10.
• C)the price level when the outcome is efficient is lower than the price at the market equilibrium by $40.
• D)the price level when the outcome is efficient is higher than the price at the market equilibrium by $20.

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Definitions:

Narcolepsy

A neurological disorder that affects the control of sleep and wakefulness, characterized by excessive daytime sleepiness and sudden sleep attacks.

Cataplexy

A sudden and temporary loss of muscle tone often triggered by strong emotions, associated with narcolepsy.

Sleepiness

A state of feeling drowsy or tired, often leading to a need or desire to sleep.

Hypocretin

A neurotransmitter involved in the regulation of arousal, wakefulness, and appetite.