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Relating to the Economics in Practice on Page 330: by Not

Question 170

Multiple Choice

Relating to the Economics in Practice on page 330: By not factoring in the external costs on society resulting from an environmental disaster caused by a specific firm, the firm will most likely ________ its product, and at equilibrium, the marginal social costs of production will be ________ the price.


A) overproduce; less than
B) overproduce; greater than
C) underproduce; less than
D) underproduce; greater than

Correct Answer:

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