Table 10-1 the Following Table Shows the Private Value, Private Cost, and Cost

question 285

Multiple Choice

Table 10-1
The following table shows the private value, private cost, and external cost for various quantities of output in a market.
-Refer to Table 10-1. What is the equilibrium quantity of output in the market?

• A)2 units
• B)3 units
• C)4 units
• D)5 units

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Definitions:

Occupational Safety And Health Administration

A federal agency of the United States that regulates workplace safety and health to prevent work-related injuries, illnesses, and deaths.

Nominal Wages

Wages that are not adjusted for inflation, representing the amount of money paid to an employee by an employer in the form of cash.