-Refer to Figure 15-4. What does S₁represent? A) the market supply curve that reflects social cost B) the market supply curve that reflects only external cost C) the market supply curve that reflects only private benefit D) the market supply curve that reflects private cost

Question

Quizplus · Accepted Answer

S₁ represents the market supply curve that reflects private cost, which is the cost borne by producers without considering external costs or benefits.

-Refer to Figure 15-4. What Does S1 represent

-Refer to Figure 15-4. What Does S₁represent