-The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. If the market is perfectly competitive and unregulated, at the equilibrium level of output
A) resource allocation is efficient.
B) resource allocation is inefficient.
C) too few tons of fertilizer are produced.
D) consumers must pay too high a price for fertilizer.

Question

-The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. If the market is perfectly competitive and unregulated, at the equilibrium level of output
A) resource allocation is efficient. 
B) resource allocation is inefficient. 
C) too few tons of fertilizer are produced. 
D) consumers must pay too high a price for fertilizer.

Quizplus · Accepted Answer

The Answer of 
-The above table shows the marginal benefits and costs from production of fertilizer. There are no external benefits. If the market is perfectly competitive and unregulated, at the equilibrium level of output
A) resource allocation is efficient. 
B) resource allocation is inefficient. 
C) too few tons of fertilizer are produced. 
D) consumers must pay too high a price for fertilizer.

-The Above Table Shows the Marginal Benefits and Costs from Production