If a Tin of Sardines Creates a Noxious Odor for Non-Sardine-Eaters

question 75

Multiple Choice

If a tin of sardines creates a noxious odor for non-sardine-eaters equivalent to $1 per tin, it follows that the market produces:

• A) too few tins of sardines relative to the social optimum.
• B) too many tins of sardines relative to the social optimum.
• C) the socially optimal level of sardines.
• D) too many or too few tins of sardines, but it is impossible to say which.

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