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Figure: Efficient Market Outcome A graph of a demand and supply curve with quantity on the horizontal axis and price on the vertical axis. The
Figure: Efficient Market Outcome A graph of a demand and supply curve with quantity on the horizontal axis and price on the vertical axis. The graph has a supply curve with a positive slope and a demand curve D with a negative slope that intercept at a point B corresponding to a quantity Q subscript 2 and a price P subscript 1. A social cost curve with a positive slope intercepts the demand curve at a point C corresponding to a quantity Q subscript 1 and a price P subscript 2. The vertical dashed line from quantity Q subscript 2 extends through B to meet the Social cost line at A corresponding to a price P subscript 3 as denoted with dashed lines at the price and quantity demanded combination. The efficient price and quantity are, respectively: Question 1 options: p3 and q2 p1 and q2 p2 and q1 p1 and q1
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