A good which has social costs that exceed private costs has a price
A) equal to marginal social cost.
B) that is too low.
C) that is too high.
D) that is inefficient because price exceeds marginal social cost.
B
Economics
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Recessions are largely the result of
A) high wages. B) the wishful thinking of zero economic growth advocates. C) widespread and systemic errors from manipulated market signals. D) none of the above.
Economics
In the long run, price is equal to _________________ cost for the monopolistic competitor.
Fill in the blank(s) with the appropriate word(s).
Economics