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QUESTION 5 The graph below illustrates private market equilibrium. Assuming that there is an external benefit associated with production, how does the optimal price and

QUESTION $5$

The graph below illustrates private market equilibrium. Assuming that there is an external benefit associated with production, how does the optimal price and quantity compare to the private market equilibrium?

a $.$ optimal price is higher, optimal quantity is less

b $.$ optimal price is higher, optimal quantity is greater

c $.$ optimal price is lower, optimal quantity is less

d $.$ optimal price is lower, optimal quantity is greater

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