Use the Following to Answer Question

question 123

Multiple Choice

Use the following to answer question:
Figure: Model of a Competitive Market
-(Figure: Model of a Competitive Market) Use Figure: Model of a Competitive Market.Given the figure,if there are external costs:

• A)resources will be underallocated to the production of the good.
• B)resources will be overallocated to the production of the good.
• C)resources will be efficiently allocated to the production of the good.
• D)the price at P will be higher than if there were no external costs.

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Definitions:

Self-Regulation

The ability of individuals to manage their thoughts, emotions, and behaviors in accordance with their goals, often involving self-control and self-discipline.

Prejudice

A preconceived opinion or bias against an individual or group without sufficient knowledge, thought, or reason.

Racism

A belief that race is a fundamental determinant of human traits and capacities and that racial differences produce an inherent superiority of a particular race.

Prejudice

Preconceived opinions or judgments about people or groups that are not based on reason or actual experience, often manifesting as discrimination or bias.