Refer to the figure below. At the private market equilibrium quantity, the marginal cost of the last unit produced is ________ the social marginal benefit of the last unit produced.
A)equal to
B)greater than
C)less than
D)more important than

Question

Refer to the figure below. At the private market equilibrium quantity, the marginal cost of the last unit produced is ________ the social marginal benefit of the last unit produced. 
A)equal to 
B)greater than 
C)less than 
D)more important than

Quizplus · Accepted Answer

At the private market equilibrium quantity V, the marginal cost of the last unit produced is less than the social marginal benefit of the last unit produced.

Refer to the Figure Below