1) Dry cleaning of clothing produces air pollutants. Therefore, in the market for dry cleaning services, the equilibrium price: A) is too low to be optimal, and equilibrium quantity is too high. B) is optimal, but there is an excess supply. C) and output are too high to be optimal. D) is too high to be optimal, and equilibrium quantity is too low. E) and output are too low to be optimal.

1) Dry cleaning of clothing produces air pollutants. Therefore, in the market for dry cleaning services, the equilibrium price: A) is too low to be optimal, and equilibrium quantity is too high. B) is optimal, but there is an excess supply. C) and output are too high to be optimal. D) is too high to be optimal, and equilibrium quantity is too low. E) and output are too low to be optimal.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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