Suppose external benefits are present in a market which results in the actual market price of $62 and market output of 3,000 units. How does this outcome compare to the efficient, ideal equilibrium?
A) The efficient price would be higher than $62.
B) The efficient price would be lower than $62.
C) The efficient price would also be $62.
D) The efficient output would be less than 3,000 units.
Correct Answer:
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