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In the Figure Given Below,the Competitive Supply Curve of a Commodity

Question 86

Multiple Choice

In the figure given below,the competitive supply curve of a commodity is given by S1,the private marginal benefit curve is D1,the marginal social benefit curve is D2,and the MBE curve reflects the marginal external benefits. In the figure given below,the competitive supply curve of a commodity is given by S<sub>1</sub>,the private marginal benefit curve is D<sub>1</sub>,the marginal social benefit curve is D<sub>2</sub>,and the MB<sub>E</sub> curve reflects the marginal external benefits. -In Figure 20-2,the price level when the efficient output is being produced is _____ than the price level when the market equilibrium output is being produced by _____. A) less;$8 B) more;$4 C) less;$3 D) more;$3
-In Figure 20-2,the price level when the efficient output is being produced is _____ than the price level when the market equilibrium output is being produced by _____.


A) less;$8
B) more;$4
C) less;$3
D) more;$3

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