Refer to the accompanying table, where Q represents the quantity produced, internal cost and social cost are given for various quantities, and P represents the price consumers are willing to pay for various quantities. The market equilibrium occurs where price is _________ and quantity is _________.
A) $70; 200
B) $50; 200
C) $60; 300
D) $80; 300
E) $60; 100
Correct Answer:
Verified
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