-The Figure Above Shows the Market for a Good with an External

question 116

Multiple Choice

-The figure above shows the market for a good with an external benefit.If the market is competitive and the government takes no action,the equilibrium quantity of ________ units is inefficient because ________.

• A) 8; marginal benefit exceeds marginal cost
• B) 8; marginal cost exceeds marginal benefit
• C) 10; marginal cost exceeds marginal benefit
• D) 10; marginal social benefit exceeds marginal benefit
• E) 10; marginal external benefit exceeds marginal social benefit

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Definitions:

First Trimester

The initial stage of pregnancy lasting from conception to 12 weeks, characterized by significant physical and developmental changes in the embryo.

Innate Involuntary

Refers to reflex actions or responses that are not learned and occur automatically without conscious thought.

Voluntary Behavior

Actions and responses that are under an individual's conscious control and decision-making.

Nervous System

The complex network of nerve cells and fibers that transmit nerve impulses between parts of the body, coordinating actions and responses.