If the production of oranges reduces global warming, then the equilibrium quantity of oranges will be ________ the socially optimal quantity.
A)higher than
B)lower than
C)equal to
D)more valuable than

Question

Quizplus · Accepted Answer

If the production of oranges generates benefits that are enjoyed by people other than those who buy and sell the oranges, then the equilibrium quantity will be less than the socially optimal quantity.

If the Production of Oranges Reduces Global Warming, Then the Equilibrium