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Question 157

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Use the following to answer questions:
Figure: Model of a Competitive Market Use the following to answer questions: Figure: Model of a Competitive Market -(Figure: Model of a Competitive Market) Given the figure Model of a Competitive Market, if there are external costs: A) resources will be underallocated to the production of the good. B) resources will be overallocated to the production of the good. C) resources will be efficiently allocated to the production of the good. D) the price at P will be higher than if there were no external costs.
-(Figure: Model of a Competitive Market) Given the figure Model of a Competitive Market, if there are external costs:


A) resources will be underallocated to the production of the good.
B) resources will be overallocated to the production of the good.
C) resources will be efficiently allocated to the production of the good.
D) the price at P will be higher than if there were no external costs.

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