The graph shows the marginal social benefit, marginal private benefit, and marginal private curves in the market. If market forces prevail, output will be, and the price will be four; $6 O four; $12 six; $9
The graph shows the marginal social benefit, marginal private benefit, and marginal private curves in the market. If market forces prevail, output will be, and the price will be four; $6 O four; $12 six; $9
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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i need both answer

Transcribed Image Text:Price
$18
$15
$12
$9
$6
0
Marginal
private benefit
2
6
four; $6
O four; $12
six; $9
10
The graph shows the marginal social benefit, marginal private benefit, and marginal
private curves in the market. If market forces prevail, output will be, and the
price will be______
nine; $6
Marginal
private cost
Marginal
social benefit
12
Quantity

Transcribed Image Text:Price
$6
S
0 $6
0 $2
$4
مر
$12
Marginal
social Marginal
cost private
12
What is the marginal external cost imposed on society by this externality?
cost
Quantity
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