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

question 3

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,if the efficient output is being produced,the market price of the commodity must be:

• A)$12.
• B)$17.
• C)$20.
• D)$24.

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Definitions:

Global Branding

The process of designing, creating, and maintaining a consistent brand image and identity across different countries and cultures.

Highly Standardized

Describes processes, products, or services that are uniform in quality and performance, often due to strict regulations or guidelines.

Health Drink Manufacturer

A company specializing in the production of beverages that are marketed for their health benefits.

Global Integration

The process of international interconnection through the exchange of goods, services, information, and culture.