An external cost arises from the use of fossil fuels because of global warming. If fossil fuels are sold in a competitive market,  A. The marginal social cost of fossil fuels will exceed their marginal private cost. B. The marginal social cost of fossil fuels will be less than their marginal private cost C. The marginal social benefit of fossil fuels  will exceed their marginal social cost D. a and b E. b and c

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