If there is an external benefit associated with a good, the market will underestimate its overall ____,
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Question:
If there is an external benefit associated with a good, the market will underestimate its overall ____, and as a result the unregulated market will likely produce a quantity that is ____ than the socially optimal quantity. 1)cost; lower 2)cost; higher 3)value; higher 4)value; lower
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