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Retnec Retnec
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8 years ago
When firms are required to pay the private costs of producing their product, rather than the social costs
A) the selling price of the product tends to be higher than if social costs were considered.
B) the level of output tends to be lower than optimal.
C) society's resources are optimally used.
D) the level of production tends to be higher than optimal.
E) they tend to earn lower profits.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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foliogefolioge
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Retnec Author
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#2
7 years ago
My exam's next week!

Perfect timing
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