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The Figure Below Shows the Marginal Benefit to Consumers,MB,the Marginal

Question 5

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The figure below shows the marginal benefit to consumers,MB,the marginal cost to private firms,MCP,and the marginal cost to society,MCS,at each level of output of some good. The figure below shows the marginal benefit to consumers,MB,the marginal cost to private firms,MC<sub>P</sub>,and the marginal cost to society,MC<sub>S</sub>,at each level of output of some good.   FIGURE 17-1 -Refer to Figure 17-1.The equilibrium output that would occur in a competitive market in the absence of government intervention is A) zero. B) Q<sub>1</sub>. C) Q<sub>2</sub>. D) Q<sub>3</sub>. E) none of the above; there is no equilibrium output level. FIGURE 17-1
-Refer to Figure 17-1.The equilibrium output that would occur in a competitive market in the absence of government intervention is


A) zero.
B) Q1.
C) Q2.
D) Q3.
E) none of the above; there is no equilibrium output level.

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