Question 1
Refer to the information provided in Figure 16.3 below to answer the question(s) that follow.
Refer to Figure 16.3. At 20 units of output there are external
◦ costs of $2 per unit.
◦ benefits of $2 per unit.
◦ costs of $5 per unit.
◦ benefits of $5 per unit.
Question 2
Refer to the information provided in Figure 16.3 below to answer the question(s) that follow.
Refer to Figure 16.3. The ________ level of output of this product is 15.
◦ unregulated
◦ efficient
◦ break-even
◦ market