a market is characterized by a positive externality that is not the result of a technology spillover, elect one: O a. the socially optimal level of output is less than the equilibrium level of output, and the optimal price is greater than the equilibrium price. O b. the socially optimal level of output is greater than the equilibrium level of output, and the socially optimal price is greater than the equilibrium price. O c. the socially optimal level of output is less than the equilibrium level of output, and the socially optimal price is less than the equilibrium price. Od. the socially optimal level of output is greater than the equilibrium level of output, and the socially optimal price is less than the equilibrium price.

a market is characterized by a positive externality that is not the result of a technology spillover, elect one: O a. the socially optimal level of output is less than the equilibrium level of output, and the optimal price is greater than the equilibrium price. O b. the socially optimal level of output is greater than the equilibrium level of output, and the socially optimal price is greater than the equilibrium price. O c. the socially optimal level of output is less than the equilibrium level of output, and the socially optimal price is less than the equilibrium price. Od. the socially optimal level of output is greater than the equilibrium level of output, and the socially optimal price is less than the equilibrium price.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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