An External Cost in the Production of a Good Creates

question 71

Multiple Choice

An external cost in the production of a good creates a difference between the
i.costs borne by the producer and the costs borne by society in general.
ii.efficient quantity of output and the equilibrium quantity of output.
iii.marginal social cost and the marginal private cost.

• A) i only
• B) iii only
• C) ii and iii
• D) i, ii, and iii
• E) i and iii

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