Which of the following is true of market social equilibrium if third parties, people outside the market for a good, bear part of the cost of the good's production? Socially optimal quantity will be greater than the private quantity, and the socially optimal price will be greater than the private price. Socially optimal quantity will be less than the private quantity, and the socially optimal price will be greater than the private price. Socially optimal quantity will equal the private quantity, and the socially optimal price will equal the private price. Socially optimal quantity will be less than the private quantity, and the socially optimal price will be less than the private price. Socially optimal quantity will be greater than the private quantity, and the socially optimal price will be less than the private price.
Which of the following is true of
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Socially optimal quantity will be greater than the private quantity, and the socially optimal |
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Socially optimal quantity will be less than the private quantity, and the socially optimal price will be greater than the private price. |
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Socially optimal quantity will equal the private quantity, and the socially optimal price will equal the private price. |
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Socially optimal quantity will be less than the private quantity, and the socially optimal price will be less than the private price. |
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Socially optimal quantity will be greater than the private quantity, and the socially optimal price will be less than the private price. |
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