The graph shown displays a market with an externality. 
Which of the following statements is true?This shows a negative consumption externality.The efficient quantity is 7 units.The size of the externality is $12 per unit.
A) I and III only
B) III only
C) II only
D) I, II, and III
Correct Answer:
Verified
Q17: Which of the following is a good
Q18: Social costs are:
A)private costs plus external costs.
B)network
Q19: Which of the following is a good
Q20: Private benefits accrue:
A)indirectly to the decision maker
Q21: When a negative externality is present in
Q23: A market with a negative externality has
Q24: When a negative production externality is present
Q25: If a production process causes pollution, then
Q26: If the social cost is greater than
Q27: The net increase to total surplus when
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