a competitive market in long-run equlibrium to be Pareto-efficient... ect one: a. Firms do not make profits of any kind b. Marginal private costs are below marginal social costs c. Marginal private costs are above marginal social costs d. Marginal external costs are zero

a competitive market in long-run equlibrium to be Pareto-efficient... ect one: a. Firms do not make profits of any kind b. Marginal private costs are below marginal social costs c. Marginal private costs are above marginal social costs d. Marginal external costs are zero

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter14: Environmental Economics

Section: Chapter Questions

Problem 7SQ

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Question

For a competitive market in long-run equlibrium to be Pareto-efficient...
Select one:
а.
Firms do not make profits of any kind
b. Marginal private costs are below marginal social costs
c. Marginal private costs are above marginal social costs
O d. Marginal external costs are zero

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