Use the Following Figure to Answer the Question : Figure

question 19

Multiple Choice

Use the following figure to answer the question : Figure 20-1 : 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.When the efficient output is being produced,the price of the good must be:

• A)$90.
• B)$108.
• C)$100.
• D)$40.

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Definitions:

Dollar Value

The monetary worth or significance of something, often used in the context of comparing currencies or assessing financial contributions or costs.

World Trade

The exchange of goods, services, and capital across international borders or territories, impacting global economic activity.

Manufactured Products

Goods that have been processed or transformed from raw materials into finished items through industrial operations.

Intratrade

Trading activities that take place within the same country or economic region.