According to the textbook,the private provision of radio and television may not achieve a socially efficient outcome because

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The private provision of radio and television may not achieve a socially efficient outcome because programs are chosen on the basis of audience size rather than the value to the audience. This means that programs that are not popular, but may have more value to the audience in terms of education or social issues, may not be produced. Therefore, consumers may not be receiving the full benefits that they could from the private provision of radio and television, leading to an inefficient outcome.

According to the Textbook,the Private Provision of Radio and Television