Refer to the above supply and demand graph. S₁ and D₁ represent the current market supply and demand, respectively. S₂ and D₂ represent the socially optimal supply and demand. The positions of the graphs indicate that there is (are): A) External benefits from production and external costs from consumption of the product B) External costs from production and external benefits from consumption of the product C) External benefits from production and consumption of the product D) External costs from production and consumption of the product

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The Answer of Refer to the above supply and demand graph. S₁ and D₁ represent the current market supply and demand, respectively. S₂ and D₂ represent the socially optimal supply and demand. The positions of the graphs indicate that there is (are): A) External benefits from production and external costs from consumption of the product B) External costs from production and external benefits from consumption of the product C) External benefits from production and consumption of the product D) External costs from production and consumption of the product

Refer to the Above Supply and Demand Graph