Under social cost pricing,producers receive price P₁.
Producers will receive price P₃.

Question

Under social cost pricing,producers receive price P₁. Producers will receive price P₃.

Quizplus · Accepted Answer

Under social cost pricing, producers receive the price that reflects the external costs (such as environmental damage) in addition to the private costs of production. The notation P₁ and P₃ seems to be incorrectly formatted or specific to a certain context not provided, making the statement about specific prices unclear in a general discussion about social cost pricing.

Under Social Cost Pricing,producers Receive Price P1

Under Social Cost Pricing,producers Receive Price P₁