If the external costs of production are not taken into account, then production will
A) be less than socially desirable.
B) be more than socially desirable.
C) be the same since only prices are affected by externalities.
D) cease.
B
Economics
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A) $2,120 B) $2,180 C) $2,320 D) $2,460
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In the price system
A) prices are set by government action. B) consumers alone set the price. C) producers alone set the price. D) prices are set by the interaction of supply and demand.
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