​The Following Graph Shows Market Equilibrium in the Presence of Externality

question 87

Multiple Choice

​The following graph shows market equilibrium in the presence of externality in an economy. The equilibrium price and output (determined exclusively by private decisions) are _____. ​
Figure 17.2
​

• A)$6 and 50 units, respectively
• B)$12 and 50 units, respectively​
• C)$12 and 40 units, respectively
• D)$6 and 40 units, respectively
• E)less than $6 and more than 50 units, respectively

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Definitions:

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