Questions 12 & 13 relate to the following graph: $ P3 ď P₂ P₁ 12 The graph best represents: 13 Ở Qo a. Negative production externality b. Positive production externality c. Negative consumption externality d. Positive consumption externality According to the graph, which price and quantity combination represents the social optimum? a. P₁, Q₁ b. P₂, Q₁ C. P₁, Qo d. P₂, Qo Social Cost A A Private Cost Demand Quantity B B D C D

Questions 12 & 13 relate to the following graph: $ P3 ď P₂ P₁ 12 The graph best represents: 13 Ở Qo a. Negative production externality b. Positive production externality c. Negative consumption externality d. Positive consumption externality According to the graph, which price and quantity combination represents the social optimum? a. P₁, Q₁ b. P₂, Q₁ C. P₁, Qo d. P₂, Qo Social Cost A A Private Cost Demand Quantity B B D C D

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 7SCQ: Would a research study on the effects of soft drink consumption on childrens cognitive development...

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