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Assume in the market for steel production, the marginal private cost curve is MPC = 50 + 17Q and the market demand is P(QD) =

Assume in the market for steel production, the marginal private cost curve isMPC = 50 + 17Qand the market demand isP(QD) = 200 - 5Q. If the marginal external cost, because of a negative externality, isMEC = 3Q. What is the socially efficient equilibrium quantity?

Select one:

a.

7

b.

6

c.

5

d.

10

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