-The above figure shows the market for steel ingots.If the market is competitive,then
A) the socially optimal quantity of steel is zero.
B) the socially optimal quantity of steel of 50 units is produced.
C) the socially optimal quantity of steel of 100 units is produced.
D) more than the socially optimal quantity of 50 units of steel is produced.

Question

-The above figure shows the market for steel ingots.If the market is competitive,then
A) the socially optimal quantity of steel is zero. 
B) the socially optimal quantity of steel of 50 units is produced. 
C) the socially optimal quantity of steel of 100 units is produced. 
D) more than the socially optimal quantity of 50 units of steel is produced.

Quizplus · Accepted Answer

The Answer of 
-The above figure shows the market for steel ingots.If the market is competitive,then
A) the socially optimal quantity of steel is zero. 
B) the socially optimal quantity of steel of 50 units is produced. 
C) the socially optimal quantity of steel of 100 units is produced. 
D) more than the socially optimal quantity of 50 units of steel is produced.

-The Above Figure Shows the Market for Steel Ingots