Question 12 0.5 ms When a product has externalit'ies, we wind up with an efcient market that is NOT optimal for society. In the case of negative externalil'ies (also called external costs) the: 0 price will be too high and the quantity produced too low 0 price will be too low and the quantity produced to high 0 price will be too lowI and the quantity produced too low 0 price will be too high and the quantity produced too high