The pig farm industry is perfectly competitive and causes pollution to the surrounding air and water. Which of the following is true ?
A) Since the industry is perfectly competitive, price and quantity are at the socially efficient levels.
B) The competitive price is higher and quantity lower than the socially efficient point.
C) The competitive price is higher and quantity higher than the socially efficient point.
D) The competitive price is lower and quantity higher than the socially efficient point.
Correct Answer:
Verified
Q1: Exhibit 14-1 Private and social cost
Q2: Suppose a state discovered chemical compounds in
Q4: All of the following are examples of
Q5: If some firms internalize their external costs
Q6: Which of the following is not an
Q7: When consumption of a good or service
Q8: If government taxes a firm which pollutes
Q9: Firms that emit toxins into the air:
A)
Q10: Which of the following is the environmental
Q11: Compare market price and quantity to socially
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