Figure 15-7

-Refer to Figure 15-7.What is the socially efficient price and quantity?
A) price = F; quantity = A
B) price = G; quantity = B
C) price = G; quantity = A
D) price = D; quantity = A

Question

Figure 15-7
 
-Refer to Figure 15-7.What is the socially efficient price and quantity?
A) price = F; quantity = A 
B) price = G; quantity = B 
C) price = G; quantity = A 
D) price = D; quantity = A

Quizplus · Accepted Answer

The socially efficient price and quantity occur where the demand curve intersects the marginal cost curve, which is typically represented by price = G and quantity = B in economic diagrams.

Figure 15-7 -Refer to Figure 15-7.What Is the Socially Efficient Price and Socially