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Which of the following is TRUE when there is the socially optimal amount of a private good with no externality? (a) Social marginal benefit equals

Which of the following is TRUE when there is the socially optimal amount of a private good with no externality?

(a) Social marginal benefit equals private marginal cost.

(b) Consumer surplus equals producer surplus.

(c) Social marginal benefit exceeds social marginal cost.

(d) Private benefits equal private costs.

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