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Which of the following is TRUE in a market subject to a positive externality? a.) Private and social marginal costs do not coincide b.) The
Which of the following is TRUE in a market subject to a positive externality?
a.) Private and social marginal costs do not coincide
b.) The equilibrium quantity in the market is inefficiently high in the absence of government intervention
c.) The government can achieve a socially optimal outcome if offers consumers a subsidy equal to the value of the externality
d.) All of the above
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