A company could produce 99 units of a good for $316 or produce 100 units of the same good for $320. The marginal cost of the 100th unit

In the figure above, a point showing an inefficient production point is point

A) A. B) B. C) C. D) D.

A benevolent social planner would prefer that the output of good x be increased from its current level if, at the current level of output of good x,

a. social value = private value = private cost < social cost. b. social cost > private value = social value > private cost. c. social cost = private cost = private value < social value. d. social value = private cost = social cost > private value.