Which of the Following Is True

question 139

Multiple Choice

Which of the following is true?
I.In an unregulated market with an external benefit,consumers don't take it into account and consume less than the efficient quantity.
Ii.Marginal social cost equals marginal private cost minus marginal external cost.
Iii.An unregulated market produces more than the efficient quantity of a good with an external cost.

• A)Only i
• B)Only ii
• C)Only iii
• D)i and ii
• E)i and iii

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Definitions:

Ironworks Industry

The sector involved in the smelting of iron ore, casting, and the forging of iron and steel to produce various goods and structures.

Domination

A state of having power or control over something or someone, often in a manner that suppresses, marginalizes, or oppresses.

Political Divisions

The differences in opinions, ideologies, or policies that create distinct groups within a political system or between nations.

Dutch Merchants

Historical traders from the Netherlands known for their global trade networks in the 16th to 18th centuries.